SAL Zones Company signs shariah-compliant credit facility agreement

SAL secures SAR 2.5 bn SAB financing: SAL Zones Company — a subsidiary of SAL Saudi Logistics Services — secured an SAR 2.5 bn shariah-compliant credit facility from Saudi Awwal Bank (SAB) to finance capital and operating expenditure for its logistics-zone project, according to a Tadawul disclosure. The facility has a 15-year term and is backed by a corporate undertaking from SAL’s parent company, as well as promissory notes. The filing does not specify which logistics-zone project the financing will fund.