BAAN Holding Group Co. — Capital/Financing Update 2016

Apr 3, 2016

Abdulmohsen Alhokair Group for Tourism and Development Company announces the signing of new Islamic Credit Facilities Agreement (Tawarruq) with Saudi British Bank

1820 · 03/04/2016 09:24:50 · Announcement #41864 · View on Saudi Exchange

Abdulmohsen Alhokair Group for Tourism and Development Company announces the signing of new Islamic Credit Facilities Agreement (Tawarruq) with Saudi British Bank

Abdulmohsen Alhokair Group for Tourism and Development Company announces the signing of new Islamic credit facilities agreement (Tawarruq) with Saudi British Bank as follows:

1- The signing date of the facility 31/03/2016.

2- The facility amount SAR 50 million (fifty million Saudi Riyals).

3- The date of the Facility Agreement is from 27/03/2016 to 31/05/2017

4- The purpose of these credit facilities is to fund the expansion projects of the company.

5- The facilities are secured by a promissory note from the Company.

6- The credit facilities are comprised of term loans and will mature over a maximum tenor of 5 years.

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