Raydan Restaurants and Cuisines Co. has received SAR 16.175 million from Saudi ORIX Co. representing the second and final part of the capital lease agreed upon with ORIX, the Nomu-listed firm said in a bourse statement.

 

The credit will have a positive impact on continuing the opening of new branches, the statement added.

 

In May 2018, the company signed a final agreement with Saudi ORIX Co. to obtain an Islamic capital lease covered by a promissory note and a real estate mortgage valued at SAR 18.92 million including interest, according to data compiled by Argaam.

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