SARCO obtains SAR 500m financing from Riyad Bank

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Riyadh – Mubasher: Saudi Arabia Refineries Company (SARCO) penned a Sharia-compliant facility deal valued at SAR 500 million with Riyad Bank on 17 September 2024.

SARCO will use the loan for public investments, including buying shares and  investment units, according to a bourse disclosure.

The financing duration is 360 days renewable for three years. It is secured by a guarantee of the company's investment portfolio.

At the beginning of 2024, SARCO announced Obaid Saad Al Subaie and Abdulaziz Abdulmohsen Al Bakr as the Chairman and the Deputy Chairman of the board, respectively.

Source: Mubasher Source: {{details.article.source}}