MIS renews, amends SAR 270 mln facility agreement with SAB

Al Moammar Information Systems Co. (MIS) announced the renewal and amendment of a Sharia-compliant credit facilities agreement with Saudi Awwal Bank (SAB) with a financing value of SAR 269.96 million, according to a Tadawul filing.

The financing period extends until Dec. 31, 2023, as the agreement is secured by a promissory note, MIS stated.

The agreement is aimed at financing new projects and issuing letters of credit and guarantee.

MIS obtained the financing on Aug. 2 and signed the agreement on Aug. 9.

Source : Arqaam