Ataa Educational obtains $50.53mln loan from Banque Saudi Fransi

Reuters Images/Faisal Al Nasser

The financing deal is secured by a promissory note and real estate guarantees

Staff Writer, Mubasher

January 8, 2025

PHOTO

Riyadh – Ataa Educational Company renewed its Sharia-compliant facility agreement with Banque Saudi Fransi at a total value of SAR 189.36 million.

The financing deal is secured by a promissory note and real estate guarantees, according to a bourse filing.

Ataa Educational will use the funding to acquire and establish educational complexes while financing its working capital.

The company obtained the loan on 7 January 2025 and it is valid for 10 years.

Last September, the Tadawul-listed company penned a SAR 510.46 million facility deal with The Saudi Investment Bank (SAIB).

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