Zahrat Al Waha renews SAR 145M credit facility with ANB

07/12/2023 Argaam

Zahrat Al Waha renews SAR 145M facility with ANB

Logo of Zahrat Al Waha for Trading Co.

Zahrat Al Waha for Trading Co. renewed a Shariah-compliant credit facility agreement worth SAR 145 million with the Arab National Bank (ANB), the company said in a statement to Tadawul.

 

The loan term is from Dec. 7, 2023, to May 31, 2024, said the company, adding that it offered order notes worth the total value of the facilities as guarantees. 

 

Zahrat Al Waha also stated that the financing aims to open letters of credit for the purchase of raw materials, machinery, and equipment. It noted that there are no related parties to the deal. 

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