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2P Perfect Presentation secures SAR 306m financing from SAB

2P Perfect Presentation secures SAR 306m financing from SAB
Photo Archive
2P
7204
75.25% 35.75 15.35
SAB
1060
17.14% 41.00 6.00

Riyadh – Mubasher: Perfect Presentation for Commercial Services (2P Perfect Presentation) renewed a Sharia-compliant financing agreement with Saudi Awwal Bank (SAB) at a value of SAR 306.18 million.

The two parties signed the facility deal on 20 September 2023, according to a bourse filing.

2P Perfect Presentation will use the loan to finance new project contracts as well as issue letters of credit and guarantee.

The agreement is secured by a promissory note with the amount of the total loan limit and is valid until 30 September 2024.

Earlier this month, the listed company won a project contract valued at SAR 44.67 million to operate and maintain the notification reception and relay system (CAD) at the Unified Security Operations Center (911) in Makkah.