ARDCO’s Tanal makes early repayment of SAR 800 mln credit facilities
17/11/2021
Argaam
Logo of Arriyadh Development Co.
Arriyadh Development Co. (ARDCO) said in a bourse statement its associate, Tanal for Real Estate Investment and Development, made early and full repayment of SAR 800 million credit facilities secured from a local bank.
Accordingly, ARDCO has no financial obligation with regard to this loan.
In 2019, the Tadawul-listed company said that Tanal secured three-year credit facilities worth SAR 800 million from a local bank, Argaam earlier reported.
Tanal is 69.38% owned by ARDCO, while Sumou Holding owns the remaining 30.62% stake.
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