NCLE gets SAR 170M credit facilities from Alinma Bank
Detailed summary
National Company for Learning and Education (NCLE) signed a Sharia-compliant credit facilities agreement with Alinma Bank with a limit of SAR 170 million. In a statement to…
National Company for Learning and Education (NCLE) signed a Sharia-compliant credit facilities agreement with Alinma Bank with a limit of SAR 170 million.
In a statement to Tadawul, the company explained that the financing comprises long-term facilities of up to 84 months and short-term facilities of up to six months.
It added that promissory notes and real estate mortgages were provided as guarantees for the financing.
The purpose of the financing is to support NCLE's expansion plans through financing asset purchases, construction work and acquisitions, as well as working capital financing.
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