Riyadh - Mubasher: Agricultural Development Company (ADC), a unit of Tanmiah Food Company, has raised its revolving Murabaha facility with Saudi Awwal Bank (SAB) to SAR 310 million from SAR 130 million.
Valid for one year, the facility is secured by a promissory note, and it will be utilized to support the working capital needs of ADC, according to a bourse filing.
In January 2025, ADC inked a SAR 165 million agreement with Chengdu Design and Research Institute (CDI).
As for the Saudi lender, SAB completed the issuance of $1.25 billion USD-denominated Tier 2 capital green notes last August.
