Modern Mills announces early partial settlement of SAR 95M loan from SNB

31/12/2024 Argaam

Modern Mills announces early partial settlement of SAR95M loan from SNB

Logo of Modern Mills Co.

Modern Mills Co.’s board of directors approved the early partial settlement of SAR 95 million from its existing Murabaha facilities with Saudi National Bank (SNB), the company said in a statement to Tadawul.

 

The move aims to optimize the use of cash, improve financial efficiency and reduce costs.

 

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Further, the early settlement reflects the company’s strong financial performance and will reflect positively on the its financial results.

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