SHL Finance renews SAR 1.9 bn sharia-compliant facility with ANB

Riyadh-based SHL Finance Company renewed a SAR 1.9 bn Sharia-compliant credit facilities agreement with Arab National Bank (ANB), it said in a disclosure to Tadawul.

The details: The loan is secured by a promissory note, and receivables are assigned to cover 105% of the outstanding balance. The facility runs until 23 March 2030.

Where will the money go? SHL will use the funds to support business expansion and revenue growth. Obaid Abdullah Al Rasheed, Managing Director and CEO of Arab National Bank, holds an indirect interest in the transaction.