Saudi British Bank signs $88mln Islamic facility agreement with SACO

17/11/2019

Saudi Company for Hardware (SACO) has signed a 330.9 million Saudi riyals ($88 million) Islamic banking facility agreement with the Saudi British Bank (SABB).

The credit facility will be used to finance SACO’s working and capital expenditure requirements, the firm said in a bourse statement.

The duration of the facility is seven years, including a two-year grace period.

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