Fawaz A. Alhokair & Co (SJSC) signed an Islamic financing agreement with Société Générale | Alhokair Fashion Retail
Fawaz A. Alhokair & Co (SJSC) signed an Islamic financing agreement with Société Générale
- The loan agreement was signed on 25/9/2014.
- The loan value is 200 Million USD.
- The loan duration is five years starting from the 25/09/2014 to 24/09/2019.
- The company aims to use this loan to pay the cost of the acquisition of Dana Trading shops that have been announced previously on 09/16/2014 and financing general corporate purposes, including financing the expansion plan of the company.
- The loan was agreed against a promissory note from the company.
- The loan will be paid through quarterly installments, which will start one year after the signing of the agreement.
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