Saudi Marketing signs $26.67mln financing deal with Bank Albilad

The facility will finance the company's working capital requirements

  
Men walk pass an automated teller machine (ATM) Bank Albilad in Riyadh, Saudi Arabia, April 25, 2016.

Men walk pass an automated teller machine (ATM) Bank Albilad in Riyadh, Saudi Arabia, April 25, 2016.

REUTERS/Faisal Al Nasser

Saudi Marketing Company has signed a 100 million Saudi riyals ($26.67 million) Islamic credit facility agreement with Bank Albilad.

The credit facility duration is from July 16, 2020 to June 16, 2021.

The facility will finance the company’s working capital requirements, Saudi Marketing said in a statement to Tadawul.

The Saudi-based company is engaged in the field of retail, trading, and importing business.

(Writing by Gerard Aoun; editing by Seban Scaria)

( gerard.aoun@refinitiv.com )

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© ZAWYA 2020

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