Logo ofLadun Investment Co.
Ladun Investment Co. signed today, Feb. 16, a Shariah-compliant credit facility agreement valued at SAR 216 million with Banque Saudi Fransi (BSF), the company said in a statement to Tadawul. 
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The five-year facility aims to provide guarantees for a construction contract awarded to Ladun’s subsidiary, Belt Industrial Co., for The Point project in Abha.
The facility is secured by a SAR 216 million promissory note payable on demand. Additionally, Belt Industrial has assigned project receivables to BSF, with acknowledgment from the project owner.
The financing will help Belt Industrial provide guarantees and secure funds needed to execute the contract for The Point project.
Ladun confirmed that the agreement does not involve any related parties.
In November, the company announced that Belt Industrial had signed a SAR 645.66 million contract, including VAT, with the Real Estate Development Fund (REDF) to construct the mixed-use project in Abha.
Logo ofLadun Investment Co.
Ladun Investment Co. signed today, Feb. 16, a Shariah-compliant credit facility agreement valued at SAR 216 million with Banque Saudi Fransi (BSF), the company said in a statement to Tadawul.
For more news on listed companies
The five-year facility aims to provide guarantees for a construction contract awarded to Ladun’s subsidiary, Belt Industrial Co., for The Point project in Abha.
The facility is secured by a SAR 216 million promissory note payable on demand. Additionally, Belt Industrial has assigned project receivables to BSF, with acknowledgment from the project owner.
The financing will help Belt Industrial provide guarantees and secure funds needed to execute the contract for The Point project.
Ladun confirmed that the agreement does not involve any related parties.
In November, the company announced that Belt Industrial had signed a SAR 645.66 million contract, including VAT, with the Real Estate Development Fund (REDF) to construct the mixed-use project in Abha.
