SHL renews SAR 1.9B credit facility deal with ANB

SHL Finance Co. renewed a Shariah-compliant credit facility agreement worth SAR 1.91 billion with Arab National Bank (ANB), according to a statement to Tadawul.

The five-year facility is secured by a promissory note for the full financing amount. SHL also assigned financing contract receivables covering 105% of the outstanding balance.

SHL said the facility will support expansion and sales growth, aligning with its strategy and future plans.

The company noted an indirect interest as Obaid Alrasheed, a SHL board member, is also Managing Director and CEO of ANB.

It added that the agreement is a recurring annual transaction, conducted under standard commercial terms with no preferential terms.