Halwani signs SAR120mn Islamic loan agreement with Al Jazeera Bank
Halwani Brothers [6001.SE] announced that it has signed an Islamic loan agreement with Al Jazeera Bank for SAR120mn. The loan is to be paid in quarterly settlements over three years from 1 June 2016 – 28 February 2019. The company intends to use these facilities to repay the remaining balance of a loan to a local bank amounting to SAR75mn, in addition to SAR45mn to finance the company’s working capital needs. (Tadawul) Halwani Brothers: SAR61.76 as of 25 May 2016, Rating: Neutral, FV: SAR68.00 per share, MCap: USD471 million, HB AB / 6001.SE
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