2020-10-30
United Development Announces Renewals of a Credit Facility Agreement Amounting to Qr 728 Million
- The objective to be achieved form the transaction is general credit facilities
- The total value of the facility is 728 million Qatari riyals
- The method of payment and the sources of financing the operation is one payment after three years
- The renewal agreement was entered with Qatar National Bank
- There is no impact on the financial position of the company due to the completion of this transaction
- Advantage is to contribute in providing general credit facilities, and there are no negatives impact or risks
- There is no conflict of interest between relevant persons in the transaction
- There is also no change in ownership percentages before and after the completion of the transaction
Source: QSE