Al Hammadi secures SAR313mn credit facilities to re-finance outstanding debt
Al Hammadi Company for Development and Investment [4007.SE] has secured SAR313mn Sharia-compliant credit facilities with Arab National Bank (1080.SE) to re-finance its current outstanding debt; given the more favorable terms of the new credit facility. Also, the credit facilities will be earmarked to enhance the company’s working capital position. The loan period will be for five years, including a two-year grace period. (Tadawul) Arab National Bank: SAR21.99 as of 25 Dec, Rating: Neutral, TP: SAR22.00/share, MCap: USD5,864mn, ARNB AB / 1080.SE
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