Logo of Modern Mills for Food Products Co.
Modern Mills Co.signed a Shariah-compliant credit facility agreement worth SAR 23.5 million with Saudi Awwal Bank (SAB). 
In a statement to Tadawul, the company explained that the facility will be used to finance its new feed mill project at Al-Jumum and support its working capital.
The company also added that the financing is divided into a Capex financing project worth SAR 120 million, with a tenure of eight years, and a revolving credit facility worth SAR 115 million, with a one-year tenure.
Modern Mills further noted that a promissory note was provided as collateral.
Logo of Modern Mills for Food Products Co.
Modern Mills Co.signed a Shariah-compliant credit facility agreement worth SAR 23.5 million with Saudi Awwal Bank (SAB).
In a statement to Tadawul, the company explained that the facility will be used to finance its new feed mill project at Al-Jumum and support its working capital.
The company also added that the financing is divided into a Capex financing project worth SAR 120 million, with a tenure of eight years, and a revolving credit facility worth SAR 115 million, with a one-year tenure.
Modern Mills further noted that a promissory note was provided as collateral.
