Tuesday, Jun 18, 2013
BEIRUT (Zawya Dow Jones)--Saudi Arabia's Abdullah A. M. Al Khodari Sons Co. (1330.SA) said on Tuesday that it has signed two Islamic credit facility agreements worth a combined 535.1 million Saudi riyals ($142.7 million).
The contracting firm also said that it has signed a SAR65 million deal with the kingdom's Northern Borders municipality to implement a local waste collection and disposal project.
Regarding the credit facilities, Al Khodari said in two separate statements posted on the Saudi bourse website that they aim, among other things, to finance the company's working capital requirements and fixed asset purchases.
The first facility, valued at SAR290.1 million, has duration of 48 months, and was signed with Gulf International Bank [which is mainly owned by the Saudi government].
The second credit facility, valued at SAR245 million, is a renewal of an existing Islamic facility with Al Rajhi Bank--[Saudi Arabia's biggest listed lender], Al Khodari said.
The company said last week that it had won three deals worth a combined value of SAR862.9 million for local construction and cleaning projects.
Al Khodari shares closed trading up 3% at SAR30.80 Monday.
Write to Shikrallah Nakhoul at shikrallah@zawya.com
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(END) Dow Jones Newswires
18-06-13 0718GMT
