Riyadh – Mubasher: Sinad Holding Company renewed and increased its Sharia-compliant banking facilities agreement with the Saudi Investment Bank (SAIB) at a value of SAR 400 million.

Sinad Holding renewed its existing short-term facilities of SAR 200 million, while raising its medium-term facilities by SAR 200 million, according to a bourse disclosure.

The company will use the short-term facility for working capital and a medium-term loan to finance investments.

Secured by a promissory note and stock pledge, the financing agreement is valid until 30 September 2025, and it is renewed annually.

In the first quarter (Q1) of 2025, the company incurred net losses valued at SAR 2.70 million, while SAIB’s net profits hiked by 13.76% year-on-year (YoY) to SAR 503.30 million.