Al Moammar Information Systems secures $473 million loan
Deal News | Feb 03, 2025 | Zawya
Saudi-listed IT firm Al Moammar Information Systems (MIS) has successfully secured a sharia-compliant loan of $473 million from Banque Saudi Fransi. This six-month loan is earmarked for various financial needs, including invoice payments, project financing, and the issuance of letters of credit guarantees. The financing arrangement aims to enhance MIS's liquidity position to support its operational and project commitments.
Sectors
- Information Technology
- Banking
- Finance
Geography
- Saudi Arabia – The transaction involves Saudi-listed company Al Moammar Information Systems and Banque Saudi Fransi, a Saudi bank.
Industry
- Information Technology – Involves an IT company, Al Moammar Information Systems, which is receiving financing.
- Banking – Banque Saudi Fransi is providing the loan, focusing on financial services.
- Finance – The article discusses financial arrangements and loans.
Financials
- 473 million USD – The amount of the loan provided to Al Moammar Information Systems.
- 1.64 billion SAR – Equivalent amount of the loan provided in Saudi Riyals.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Al Moammar Information Systems | Target Company | Company | A Saudi-listed IT firm receiving a sharia-compliant loan. |
| Banque Saudi Fransi | Lender | Company | A Saudi bank providing a $473 million loan. |