SARCO to secure SAR 500M facilities from Riyad Bank

Saudi Arabia Refineries Co. (SARCO) signed an agreement with Riyad Bank to secure SAR 500 million Shariah-compliant facilities.

The facility term will be three years, or 360 renewable days, said the company, indicating that the loan was guaranteed by its investment portfolio.

According to SARCO, the financing deal is aimed to fund public investments (buying shares - buying investment units). There are no related parties.