Sinad Holding Company has secured 300 million Saudi riyal ($79.90 million) through a long-term Shariah-compliant banking facility from Alinma Bank.

The financing will be valid from June 11, 2026, until January 31, 2029 and will be used for general investment purposes, the company said in a statement to the Saudi stock exchange on Thursday.

The renewable credit facility is guaranteed by a promissory note and a share pledge.

Sinad’s net loss widened to SAR 16 million in the first quarter of 2026 from SAR 2.7 million a year earlier. Revenue was up 5.7% year-on-year to SAR 432.2 million during the quarter.

(Editing by Seban Scaria seban.scaria@lseg.com)