Red Sea Subsidiary Secures SAR 200M Funding Facility

RED SEA -1.14%

RED SEA

4230.SA

21.75

-1.14%

Red Sea International Company announced on January 18, 2026, that its subsidiary, The Fundamental Installation for Electric Work Co., has signed a financial facilities agreement with The Saudi Investment Bank. The SAR 200,000,000 (Two Hundred Million Saudi Riyals) facility will run for 307 days and will be used to issue Advance Payment Bonds, Performance Bonds, and LC facilities. The agreement includes multiple guarantees from Red Sea International Company, MSB Holding Company, and individual guarantors Fares Esamat Al Saadi and Ziyad Jean Alsayegh.

Original announcement:

https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=92698&anCat=1&cs=4230&locale=ar

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