Al-Khodari agrees SR245m of Islamic credit facilities

Saudi construction company Al-Khodari Sons has agreed SR245m ($65.3m) of Islamic credit facilities with Al-Rajhi Bank. Al Khodari will use the money to provide bonding commitments, fund capital requirements and working capital needs for both specific projects and general businesses.

  • 25 Apr 2012
The facilities are secured by promissory notes and proceeds of the financed projects. According to a bourse filing, 61% of the facilities will be murabaha (funded) and 39% are for multi-bonds and documentary credit until the expiry of the agreement. This may be renewed after the end of ...

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