Riyadh – Mubasher: Abdulmohsen Alhokair Group for Tourism and Development Company inked an agreement with Saudi British Bank (SABB) to reschedule Islamic credit facilities worth SAR 89.024 million.
The rescheduling will have a positive impact on managing the company's cash flows, according to a stock exchange statement on Wednesday.
The financing period for the first loan, which totals SAR 74.674 million, was four years including a one-year grace period before rescheduling, whilst after rescheduling, it will be five years including a one-year grace period.
As for the second loan that is valued at SAR 14.350 million, the loan term before rescheduling was five years including a one-year grace period, while after rescheduling, it will become six years including a grace period of one year.
