Red Sea International renewed banking facilities worth SAR 439.6 million for its subsidiary through agreements with Alinma Bank and Riyad Bank extending to 2028
Red Sea International Co.’s subsidiary, Fundamental Installation for Electric Work Co. (First Fix), signed two banking facilities deals with Alinma Bank and Riyad Bank with a combined value of SAR 439.6 million, according to two separate statements to Tadawul. 
The first agreement, signed with Alinma Bank, runs until June 30, 2028, and renews a previous facility for three years while maintaining the credit limit at SAR 230 million.
The second agreement runs until Oct. 20, 2028, and renews a previous facility for three years.
The value of the facilities was reduced to SAR 209.6 million at the company’s request, from SAR 237.9 million under the previous agreement dated Nov. 13, 2024.
Red Sea International renewed banking facilities worth SAR 439.6 million for its subsidiary through agreements with Alinma Bank and Riyad Bank extending to 2028
Red Sea International Co.’s subsidiary, Fundamental Installation for Electric Work Co. (First Fix), signed two banking facilities deals with Alinma Bank and Riyad Bank with a combined value of SAR 439.6 million, according to two separate statements to Tadawul.
The first agreement, signed with Alinma Bank, runs until June 30, 2028, and renews a previous facility for three years while maintaining the credit limit at SAR 230 million.
The second agreement runs until Oct. 20, 2028, and renews a previous facility for three years.
The value of the facilities was reduced to SAR 209.6 million at the company’s request, from SAR 237.9 million under the previous agreement dated Nov. 13, 2024.
