Lana secures SAR 5M credit facilities from BSF

Lana Medical Co. obtained Shariah-compliant credit facilities worth SAR 5 million from Banque Saudi Fransi (BSF).

In a statement to Tadawul, the company said that the financing term is 1,080 days and the amount is covered by promissory notes.

The credit facilities were obtained to finance the final letters of guarantee for the company’s projects, if needed, the statement added.

There are no related parties to the deal, Lana said.