16 Muharram 1446 - 22 July 2024
    
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Eye of Riyadh
Business & Money | Tuesday 15 August, 2023 10:10 am |
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Riyadh Cables gets SAR 600 mln credit facility from Saudi EXIM Bank

Riyadh Cables Group Co. (RCG) signed, on Aug. 14, a Shariah-compliant credit facility agreement worth SAR 600 million with Saudi Export-Import Bank (Saudi EXIM), to finance the company’s working capital needs of export and pre-export activities.

 

In a statement to Tadawul, Riyadh Cables pointed out that the financing is valid until April 30, 2024, secured by a promissory note that represents 100% of the funding value.

 

There are no related parties to the transaction, the statement added.

 

Source : Argaam

 


 

 

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