Academy of Learning gets SAR 30M facilities from Bank Albilad

Academy of Learning Co. (AOL) obtained today, Nov. 3, Shariah-compliant credit facilities from Bank Albilad at a total value of SAR 30 million to finance future expansions.

The facilities have a four-year term and are secured by a performance guarantee by the company’s Chairman and a promissory note, AOL said in a statement to Tadawul.

There are no related parties to the deal.