Saudi: Pan Gulf secures $18.66mln financing agreement

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The facility deal, which is valid for one year, is secured by a promissory note and a corporate guarantee for the amount of the loan

Staff Writer, Mubasher

June 4, 2024

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Riyadh - Pan Gulf Marketing Company obtained a SAR 70 million loan from Saudi Awwal Bank (SAB) on 29 May 2024, according to a bourse disclosure.

The facility deal, which is valid for one year, is secured by a promissory note and a corporate guarantee for the amount of the loan.

The company will use the proceeds of investment to finance its working capital.

Last February, Pan Gulf began the listing and trading of its shares on the Parallel Market (Nomu) of the Saudi Exchange (Tadawul) under the symbol 9593.

The company set the final price for its offering on Nomu at SAR 51 per share.

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