Tihama Advertising, Public Relations and Marketing Company announces renewal and amendment banking facility agreement (Shariah-compliant) with Saudi National Bank.
November 01, 2021 at 08:38 am EDT
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A4070 TAPRCO-0.3 (-0.65 %) 1443/03/26 Mon Nov 1, 2021 15:27:36
Tihama Advertising, Public Relations and Marketing Company announces renewal and amendment banking facility agreement (Shariah-compliant) with Saudi National Bank.
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Explanation
Introduction
Tihama Advertising, Public Relations and Marketing Company announces renewal and amendment banking facility agreement (Shariah-compliant) from Saudi National Bank
Date of obtaining the funding
2021-11-01 Corresponding to 1443-03-26
Financing entity
Saudi National Bank
Financing amount.
Facilities amounting to SAR 20 million as a general limit that can be used for several sub-limits
Financing duration.
One year
Guarantees offered for the financing
The facility is secured by an SAR 22m promissory note and mortgage over fixed deposit (equivalent to total facility value) in favor of the bank.
Financing objective
Restructuring the financial obligations of the company and providing non-cash facilities to the company (guarantees and credits).
Related Parties
No related parties on this agreement.
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Disclaimer
Tihama Advertising & Public Relations & Marketing Holding SJSC published this content on 01 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 November 2021 12:36:12 UTC.
Tihama Advertising and Public Relations and Marketing Holding SJSC (Tihama) is a Saudi Arabia-based company engaged in the provision of advertising, public relations, marketing, publishing, media services, communications, bookstores and video services. The Companyâs operations include media relations, which cover publishing of newspapers, articles and press conference, among others; Corporate Communications include newsletters, journals, brochures and annual reports; Conferences and seminars include strategic preparations, organizing exhibitions and events , and other activities, such as exhibition and event management, corporate relations and program coordination, among others. The Company operates through its headquarters in Jeddah, branches, and subsidiaries in Saudi Arabia and its offices and representatives in abroad.
Tihama Advertising, Public Relations and Marketing Company announces renewal and amendment banking facility agreement (Shariah-compliant) with Saudi National Bank.