2P renews, increases SAR 330M credit facilities with Riyad Bank

Perfect Presentation for Commercial Services Co. (2P) renewed and increased a Shariah-compliant credit facility to SAR 330 million with Riyad Bank, the company said in a statement to Tadawul.

The financing, available until July 30, 2026, is secured by promissory notes that cover the total amount, according to the statement.

The financing will be used for new awarded projects (issuing letter of guarantees and letter of credit & invoice financing).

According to Argaam’s data, 2P announced on July 10, 2024 increasing its Shariah-compliant facilities agreement with Riyad Bank by SAR 121 million, bringing the total value of the facilities to SAR 356 million. It noted that the financing period extends until July 10, 2025.