The Islamic loan will be directed to support the company’s expansions, in line with its strategy and plans
Academy of Learning Co. (AOL) said it obtained SAR 113.75 million worth of Sharia-compliant credit facilities from Riyad Bank, according to a statement to Tadawul. 
The facilities carry a six-year tenor, including a one-year grace period. They are backed by a joint and several guarantee from the company’s chairman, in addition to a promissory note issued by the company to the bank.
AOL said the financing will support its expansion plans in line with its strategy.
The company added that the agreement involves no related parties.
The Islamic loan will be directed to support the company’s expansions, in line with its strategy and plans
Academy of Learning Co. (AOL) said it obtained SAR 113.75 million worth of Sharia-compliant credit facilities from Riyad Bank, according to a statement to Tadawul.
The facilities carry a six-year tenor, including a one-year grace period. They are backed by a joint and several guarantee from the company’s chairman, in addition to a promissory note issued by the company to the bank.
AOL said the financing will support its expansion plans in line with its strategy.
The company added that the agreement involves no related parties.
