Al Hammadi Company for Development and Investment announces the signing of Islamic Financing Facility agreement with Arab National Bank as following:
1.loan was signed on 24-12-2016
2.Loan amount of SAR 312.5 Millions
3.The purpose of the loan is to refinance the Company current financing facilities with better terms and conditions compared to the existing facilities, as well as enhancing the Company working capital to support the growing business operations.
4.Loan guarantee : promissory note of the total facility value to the benefit of Arab National Bank.
5.Further information: Financing period is 5 years (including 2 years grace period) and no related parties involved.