2P raises, renews SAR 135M credit facility deal with GIB

Perfect Presentation for Commercial Services Co. (2P) increased and renewed a Shariah-compliant credit facility deal worth SAR 135 million with Gulf International Bank (GIB), according to a Tadawul statement today, Feb. 16.

The financing, raised on Feb. 15, is secured by promissory notes to the total facility amount.

The loan aims to finance new projects and issue letters of guarantees as well as letters of credit and invoice financing, the statement said.

There are no related parties to the deal, it added.