Saudi hardware retailer signs 330.9 mln riyals Islamic financing
Saudi Company for Hardware has signed with Saudi British Bank for 330.907 million riyals ($88.24 million) in Shariah-compliant finaning.
The retailer and wholesaler said in an exchange filing on Thursday (Nov 14) the credit facility is for seven years including a two-year grace period.
It said the funds will be used to finance working capital and capital expenditure requirements.
($1 = 3.75 Saudi riyals)
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