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06-06-14

Saudi Alhokair gets USD266m loan

(MENAFN) Saudi Arabian retailer Fawaz Abdulaziz Alhokair Co. has signed an USD0.266 billion Islamic loan maturing in March 2021 to repay loans and fund expansion, according to Arab News. The loan is repayable by semi-annual installments starting 18 months from June 4, the date of agreement, a bourse statement said. Alhokair, the Saudi Arabian retailer which franchises brands such as Zara and Marks and Spencer in the Kingdom, said last week it plans to issue a debut riyal-denominated sukuk.