Red Sea International's Unit Lands Loan Extension

03:54 AM EST, 12/15/2025 (MT Newswires) -- Red Sea International's (SASE:4230) The Fundamental Installation for Electric Work subsidiary secured a three-year extension for its multi-purpose financing facility with Riyad Bank (SASE:1010). The loan amount under the facility was reduced to 209.6 million Saudi riyals from 237.9 million riyals based on the subsidiary's requirements, the modular engineering group said Monday. The subsidiary uses the facilities to issue advance payment bonds, performance bonds, and letter of credit facilities, the company noted.