SHL Finance signs SAR 300M credit facility with Al Rajhi Bank

SHL Finance Co. signed today, Sept. 10, a Shariah-compliant banking facility worth SAR 300 million with Al Rajhi Bank.

The five-year facilities were secured by a promissory note and receivables, the company said in a filing to Tadawul.

The new financing will be directed at business expansion and boosting sales through new loans granted to customers, in line with its strategy and future plans, the statement added.

The company confirmed the agreement is a standard transaction carried out in the regular course of business, under prevailing commercial terms and without preferential conditions.