Riyadh – Saudi Arabian Amiantit Company has signed an agreement with the Saudi National Bank (SNB) to reschedule banking facilities worth SAR 330 million.

The company will reschedule the facilities to improve and arrange its cashflow and enhance its operations, according to a bourse filing on Monday.

After scheduling, the financing period includes one-time trade facilitation worth SAR 219.1 million for a 10-year tenor, including a two-year grace period and trade facilitation with a sub-limit, letters of credit, and a guarantee worth SAR 110.9 million.

The loan will have a positive impact on enhancing the company's performance during the next period.

Source: Mubasher

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