Ataa Educational Co. — Capital/Financing Update 2021

Jul 7, 2021

Ataa Educational Co. Announces Obtaining a the signing of a banking facilities agreement in compliance with the provisions of Islamic sharia

4292 · 07/07/2021 08:47:56 · Announcement #64058 · View on Saudi Exchange

Ataa Educational Co. Announces Obtaining a the signing of a banking facilities agreement in compliance with the provisions of Islamic sharia

Element List	Explanation
Introduction	Ataa Educational Company announces the signing of a Sharia-compliant banking facility agreement with Riyad Bank with a value of (278,250,000) two hundred and seventy-eight million two hundred and fifty thousand Saudi riyals. These facilities will be used to finance the company’s future needs for expansion projects and to finance working capital when needed. The facilities were granted Based on the strength of the company's financial position against a promissory note
Date of obtaining the funding	2021-07-06 Corresponding to 1442-11-26
Financing entity	Riyad Bank
Financing amount.	278,250,000 Saudi riyals
Financing duration.	10 years
Guarantees offered for the financing	promissory note
Financing objective	Financing the company's future needs for expansion projects and financing working capital when needed.
Related Parties	None
Additional Information	None

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