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Riyadh – Ataa Educational Company has signed a Shariah-compliant agreement with Riyad Bank to obtain facilities worth SAR 278.25 million.
The loan duration stands at 10 years from the date of signing the deal on 6 July 2021, according to a bourse filing on Wednesday.
Ataa Educational intends to finance the company’s future expansion plans in addition to funding the working capital.
Last month, the firm penned a Murabaha financing agreement worth SAR 125 million with the Saudi Investment Bank (SAIB) to reschedule a number of existing loans.
Source: Mubasher
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