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RIYADH: Saudi Arabia’s Jabal Omar Development Co. has signed a SR1 billion ($266 million) loan facility with Bank Albilad.
The 8-year loan will be repaid through equal semi-annual installments, the company said in a bourse filing.
The money will be used to repay an existing unsecured facility with Bank Albilad, which amounts to SR 643.7 million, as well as other liabilities and general corporate expenses.
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