Al Hammadi Company for Development and Investment announces the signing of Islamic financing facility agreement with Arab National Bank as following:
1. Agreement was signed on 14-08-2016
2. Loan amount of SAR 100 Millions, divided as following:
– Specified duration medium-term Tawaruq financing, with Saudi Riyal 50 million limit and 4 years financing period including 1 year grace period.
– Revolving short-term Tawqruq financing, with Saudi Riyal 50 million limit and 1 year financing period.
3. The purpose of the loan is to finance the Company working capital
4. Loan guarantee is on demand order note with the total facility value to the benefit of Arab National Bank.