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Saudi Arabia's Al Jouf Cement Company has secured a Islamic facility worth 150 million riyals ($40 million) from Al Rajhi Bank.
The shariah-complaint facility, with a duration of nine years including a year's grace period, will be used to repay part of an existing loan and also to support the cement producer's operational and financial operations.
Guarantee for the facility includes promissory note and mortgage of a part of Al Jouf's assets.
(Writing by Brinda Darasha; editing by Seban Scaria)
