Leejamincreases limit ofShariah-compliant credit facilities with Emirates NBD
Leejam Sports Co. said it signed an agreement on Feb. 2 to extend and increase the limits of its Shariah-compliant credit facilities with Emirates NBD to SAR 350 million. 
In a statement to Tadawul, Leejam said the facilities include SAR 200 million in medium-term Murabaha financing to fund capital and investment expenditures related to future expansion plans, as well as SAR 150 million in short-term facilities and multiple letters of credit to meet working capital requirements.
The tenor of the medium-term facilities, upon drawdown, is four years, including a one-year grace period, while the short-term loan has a tenor of three months, and the letters of credit have a tenor of one year.
The guarantees provided against the facilities consist ofapromissory notes equivalent to the value of the facilities,the statement noted, addingthat there are no related parties.
Leejamincreases limit ofShariah-compliant credit facilities with Emirates NBD
Leejam Sports Co. said it signed an agreement on Feb. 2 to extend and increase the limits of its Shariah-compliant credit facilities with Emirates NBD to SAR 350 million.
In a statement to Tadawul, Leejam said the facilities include SAR 200 million in medium-term Murabaha financing to fund capital and investment expenditures related to future expansion plans, as well as SAR 150 million in short-term facilities and multiple letters of credit to meet working capital requirements.
The tenor of the medium-term facilities, upon drawdown, is four years, including a one-year grace period, while the short-term loan has a tenor of three months, and the letters of credit have a tenor of one year.
The guarantees provided against the facilities consist ofapromissory notes equivalent to the value of the facilities,the statement noted, addingthat there are no related parties.
