Farm Superstore seals SAR 130 mln Sharia-compliant deal with Alinma Bank

18/07/2019 Argaam

Saudi Marketing Company (Farm Superstore) has inked a Sharia-compliant credit facility agreement with Alinma Bank at a total value of SAR 130 million, the company said in a bourse statement.

 

The facility tenor extends from June 16, 2019 until April 30, 2020.

 

The loan, which was guaranteed by a promissory note, will go for financing the requirements of the working capital.

 

No related parties are involved in the agreement, the statement added. 

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