Abdullah Abdulmohsen Al-Khodri Sons Company announced the signing of a renewal agreement with Gulf International Bank (GIB) in the middle of this month for an amount of SAR 290,130,000 (two hundred and ninety million, one hundred and thirty thousand riyals).

These credit facilities are intended to provide collateralized commitment, working capital financing and fixed asset purchase for the company's projects. The credit facilities granted by GIB include 36% of the facility value as Murabaha loans and 64% of the facility value as multi-purpose guarantees and documentary credits.

The credit facilities granted by GIB include 36% of the facility value as Murabaha loans and 64% of the facility value as multi-purpose guarantees and documentary credits.

The credit facilities are intended to finance the working capital financing of the company's projects.

It is worth mentioning that the content of the financing limits ranges from six months to forty-eight months depending on the purpose of using these facilities, and the Murabaha facilities will be repaid in quarterly and semi-annual installments of different amounts. This agreement is secured by a deed of order in addition to the assignment of the proceeds of the financed projects' contracts.