Saudi: 2P Perfect Presentation secures $81.6mln financing from SAB

AFP

2P Perfect Presentation will use the loan to finance new project contracts as well as issue letters of credit and guarantee

Staff Writer, Mubasher

September 22, 2023

PHOTO

Riyadh – Perfect Presentation for Commercial Services (2P Perfect Presentation) renewed a Sharia-compliant financing agreement with Saudi Awwal Bank (SAB) at a value of SAR 306.18 million.

The two parties signed the facility deal on 20 September 2023, according to a bourse filing.

2P Perfect Presentation will use the loan to finance new project contracts as well as issue letters of credit and guarantee.

The agreement is secured by a promissory note with the amount of the total loan limit and is valid until 30 September 2023.

Earlier this month, the listed company won a project contract valued at SAR 44.67 million to operate and maintain the notification reception and relay system (CAD) at the Unified Security Operations Center (911) in Makkah.

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