Propertiesmedia center
News
Saudi Vitrified Clay Pipes Co. Announces Obtaining a Shariah-compliant credit facilities
- Wednesday, 16 October 2024
| Element List | Explanation |
|---|---|
| Introduction | Saudi Vitrified Clay Pipe Co. announces that it has signed a credit facility agreement (Islamic Shariah-compliant) with the Saudi Investment Bank, where the company's copy was signed and received on Wednesday 07-04-1446H corresponding to 10-10-2024G |
| Date of obtaining the funding | 2024-10-10 Corresponding to 1446-04-07 |
| Financing entity | The Saudi Investment Bank |
| Financing amount. | 30,000,000 |
| Financing duration. | - 20 million SAR long-term financing for 72 months with a grace period of 12 months
-10 million SAR short-term financing for 6 months (revolving loan on demand) |
| Guarantees offered for the financing | A promissory note of 30,000,000 SAR |
| Financing objective | Financing the current and future projects, issuing bank guarantees, and LC and working capital. |
| Related Parties | NA |