Logo ofNational Co. for Education
National Co. for Education announced that it signed a Shariah-compliant banking facilities agreement yesterday with the Saudi Awwal Bank (SAB), with a total financing limit of SAR 230 million. 
In a statement to Tadawul, the company said the long-term facilities have a tenor of up to seven years, including a two-year grace period, while the short-term facilities extend for up to six months.
The company added that it provided a promissory note equivalent to the financing amount, in addition to a mortgage, as collateral for the facilities, noting that there are no related parties involved.
It stated that the financing aims to support its expansion plans through funding asset purchases, construction works, acquisitions, as well as working capital needs.
Logo ofNational Co. for Education
National Co. for Education announced that it signed a Shariah-compliant banking facilities agreement yesterday with the Saudi Awwal Bank (SAB), with a total financing limit of SAR 230 million.
In a statement to Tadawul, the company said the long-term facilities have a tenor of up to seven years, including a two-year grace period, while the short-term facilities extend for up to six months.
The company added that it provided a promissory note equivalent to the financing amount, in addition to a mortgage, as collateral for the facilities, noting that there are no related parties involved.
It stated that the financing aims to support its expansion plans through funding asset purchases, construction works, acquisitions, as well as working capital needs.
