Tuesday, May 01, 2012
RIYADH (Zawya Dow Jones)--Saudi Arabia's Abdullah A. M. Al Khodari Sons Co. (1330.SA) said Tuesday it signed 200 million Saudi riyal ($53.3 million) Islamic credit facilities agreement with Saudi British Bank (1060.SA), better known as SABB, to meet its bond commitments, hedging and working capital needs.
Al Khodari said in a statement on the Saudi bourse website that 15% of the facilities will be utilized under murabaha and 85% are for multi bonds, documentary credit and the cost of finance hedging until the expiry of the credit agreement March 31 next year, though it can be renewed.
The firm's shares finished trading unchanged Tuesday at SAR53.25.
-By Summer Said, Dow Jones Newswires; +966-546-842373; summer.said@dowjones.com
(END) Dow Jones Newswires
01-05-12 1622GMT
