Lavender receives 35M riyals from Al Rajhi
Al Khuzama Commercial Company announced that it has secured credit facilities worth 35 million Saudi Riyals from Al Rajhi Bank, for a period of 42 months with a grace period of up to 6 months. The financing is intended to fund its acquisition of a 25% stake in Al-Akal Al-Fareed, bolster its capital, and support expansion efforts. The guarantees include two sureties from the Chairman and Vice-Chairman of the Board, along with a promissory note valued at 38.5 million Riyals. This financing aligns with the company's strategic goal to enhance its investments and diversify its sources of funding within the food and services sectors.
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