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Ladun Investment Company announces that its Board of Directors has approved the signing of a Shariah-compliant credit facility agreement with Banque Saudi Fransi for a total amount of SAR 216 million
| Element List | Explanation |
|---|---|
| Introduction | Ladun Investment Company announces that its Board of Directors approved, on February 16, 2025, the signing of a Shariah-compliant credit facility agreement with Banque Saudi Fransi for a total amount of SAR 216 million as a multi-purpose financing facility. The facility aims to provide the necessary guarantees for executing the construction contract signed with its subsidiary, Built Industrial Company, to implement The Point project in the city of Abha. |
| Date of obtaining the funding | 2025-02-16 Corresponding to 1446-08-17 |
| Financing entity | Banque Saudi Fransi |
| Financing amount. | SAR 216 million |
| Financing duration. | 5 Years |
| Guarantees offered for the financing | 1.A promissory note for SAR 216,000,000 payable on demand, covering the total financing amount mentioned above. 2.An assignment in favor of Banque Saudi Fransi, provided by “Built Industrial Company”, over the proceeds of the financed project, with acknowledgment of acceptance by the project owner. |
| Financing objective | Enabling Built Industrial Company to provide the necessary guarantees and secure the required financing to execute the construction contract signed for The Point project in the city of Abha. |
| Related Parties | None |
| Additional Information | Ladun Investment Company had previously announced the signing of the contract for the execution of The Point project on November 17, 2024, in the city of Abha by its subsidiary, Built Industrial Company, with a total value of SAR 645,664,422 (inclusive of VAT). |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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