Leejam sports renews, increases SAR 960M credit facilities with SAB
The package includes a SAR 794 million medium-term Murabaha loan to finance expansion-related capital and investment expenditures, a SAR 50 million short-term loan for working capital, and SAR 116 million for bank guarantees and letters of credit, the company said in a statement to Tadawul.
The medium-term facilities have a five-year term with a one-year grace period, while the short-term facilities mature in six months. Bank guarantees and letters of credit carry terms of one to three years.
Leejam said the financing is backed by promissory notes equal to the value of the facilities and involves no related parties.
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