Enma Alrawabi Company announces that it has obtained Sharia-compliant credit facilities
02/26/2024
| EXPLANATION | ELEMENT LIST |
| Credit facilities. | Financing type |
| Enma Alrawabi Company announces that it has obtained Sharia-compliant credit facilities. | Announcement Title |
| 25 / 02 / 2024 | Date of obtaining the funding |
| Arab National Bank. | Financing entity |
| (170,000,000) One hundred and seventy million Saudi riyals only. | Financing value |
| Five years. | Financing duration |
|
A promissory note for the full value of the financing.
Mortgage on the Hittin land in Riyadh.
|
Guarantees provided in exchange for financing |
| To finance the transaction of purchasing the buildings erected on the Hittin land in Riyadh, in relation to the termination of the lease contract between Enma Al-Rawabi Company (the lessor) and Al-Motaqadimah Schools Company (the lessee) by mutual consent. | Financing objective |
| No related parties. | Related Parties |