Riyadh – Mubasher: Perfect Presentation for Commercial Services Company (2P) inked a Sharia-compliant facility agreement with Riyad Bank at a value of SAR 235 million on 14 March 2023.

The financing deal is secured by promissory notes worth the value of the total loan limit and is valid until 6 February 2024, according to a recent bourse filing.

Meanwhile, Perfect Presentation will use the proceeds of the facility to finance new project contracts and issue letters of credit and guarantee.

Last February, the Tadawul-listed firm obtained a SAR 50 million loan from Gulf International Bank (GIB).

It is worth noting that Riyad Bank witnessed 16.50% higher net profits at SAR 7.01 billion in 2022, compared to SAR 6.02 billion during the January-December 2021 period.