Abdulmohsen Alhokair Group for Tourism and Development announces obtaining a new Islamic Credit Facilities Agreement
Abdulmohsen Alhokair Group for Tourism and Development announces the signing of new Islamic Credit Facilities Agreement agreement with The Saudi Investment Bank as following:
1.loan was signed on 01-05-2017
2.Loan amount of SAR 45 Millions
3.Loan period duration from 20-04-2017 to 20-04-2018.
4.The purpose of the loan is to fund the expansion projects of the Company
5.Loan guarantee : The facilities are secured by a promissory note from the Company.
6.Further information: The credit facilities are comprised of term loans and will mature over a maximum tenor of 7 years including grace period of 2 years.