Alandalus taps SNB for $9.4M in fresh debt

What's the deal? Alandalus Property CompanyDealroom has a profile for this one. Try Dealroom → secured a SAR 35 million ($9.4 million) short-term credit facility from the Saudi National BankDealroom has a profile for this one. Try Dealroom → (SNB), it disclosed on Thursday. The Shariah-compliant Tawarruq facility carries a one-year term.

Why now? The company filed the disclosure on the Saudi Exchange (Tadawul)Dealroom has a profile for this one. Try Dealroom →, a required step for listed firms. It said the money will support working capital and finance existing projects.

The signal: The one-year facility points to a quick re-raise as Alandalus lines up short-term liquidity to keep current projects moving.

Read more: maaal.com

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