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Saudi Vitrified Clay Pipes Co. Announces Obtaining a Shariah-compliant credit facilities
2360
SVCP
0.69
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1446/04/10 13/10/2024 08:38:25
| 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 |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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