Herfy signs SAR150 million credit facility agreement with Al-Rajhi Bank
Herfy Food Services (6002.SE) announced that it had signed a credit facility agreement worth SAR150 million with Al-Rajhi Bank with a four-year tenor as of 06 April 2016. According to the terms of the loan, each withdrawn amount will be repaid over four years starting from the day of withdrawal. The loan, which is secured by promissory notes, aims to finance the company's expansions in the coming period; the company plans to launch 30 new locations in 2016. (Company disclosure)
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