AYYAN gets SAR 300M credit facility from SNB

Ayyan Investment Co. obtained today, March 10, a Shariah-compliant credit facility (commercial Murabaha) worth SAR 300 million from Saudi National Bank (SNB) at competitive rates.

In a statement to Tadawul, the company said the financing has a 10-year term, including a three-year grace period, and will be used to expand its investments in listed equity instruments on the Saudi market.

The guarantees provided for the financing include a promissory note and a pledge over part of the investment portfolio assets, the company added, noting that there are no related parties to the deal.