Riyadh - Mubasher: Sure Global Company extended its SAR 25 million facility agreement with Arab National Bank (ANB) for one year as of 20 December 2022, according to a bourse disclosure.
The Saudi firm will use the funding to issue bank guarantees and letters of credit in order to finance its current and future projects.
Meanwhile, the financing is secured by a promissory note covering the total value of the loan in favour of the bank.
Earlier, the Saudi Ministry of Justice awarded Sure Global a project contract at a value of SAR 26.69 million.
It is worth noting that in the first nine months (9M) of 2022, ANB logged net profits worth SAR 2.28 billion, an annual increase of 32.56% from SAR 1.72 billion.
