Ataa Educational Co. — Capital/Financing Update 2023

May 15, 2023

Ataa Educational Company announces that its subsidiary (Al-Wasat Al-Ahlia Company for Education and Training) has signed a Sharia-compliant Murabaha financing agreement with the Banque Saudi Fransi

4292 · 15/05/2023 09:43:56 · Announcement #73636 · View on Saudi Exchange

Ataa Educational Company announces that its subsidiary (Al-Wasat Al-Ahlia Company for Education and Training) has signed a Sharia-compliant Murabaha financing agreement with the Banque Saudi Fransi

Element List	Explanation
Introduction	Ataa Educational Company announces that its subsidiary (Al-Wasat Al-Ahlia Company for Education and Training) has signed a Sharia-compliant Murabaha financing agreement of 70 million Saudi riyals with the Banque Saudi Fransi for the construction of an educational complex in Riyadh .
Date of obtaining the funding	2023-05-14 Corresponding to 1444-10-24
Financing entity	the Banque Saudi Fransi
Financing amount.	SAR 70,000,000
Financing duration.	7 years
Guarantees offered for the financing	A promissory note, a corporate guarantee, and a personal guarantee
Financing objective	Financing the construction of an educational complex in Riyadh .
Related Parties	None
Additional Information	None

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