Raydan Restaurants and Cuisines Co. has signed a non-binding SAR 35 million Islamic capital lease agreement with Saudi ORIX Co., the Nomu-listed firm said in a bourse statement.

 

The agreement is dated Aug. 28, 2017 and has a term of five years, pending final approval of the initial agreement and valuations.

 

The loan will have a positive impact on liquidity and will be used to finance the opening of new branches, the statement added.

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