Alkhorayef Water raises SAIB facilities to SAR 380.5M

Logo of Alkhorayef Water and Power Technologies Co.

Alkhorayef Water and Power Technologies Co. increased the existing credit facilities with the Saudi Investment Bank (SAIB) by SAR 200 million, from SAR 180.5 million to SAR 380.5 million.

 

The amount is guaranteed by a promissory note, with all other terms and conditions remain unchanged, the company said today, May 30, in a statement to Tadawul.

 

Alkhorayef Water signed in November 2022 a SAR 100 million Sharia-compliant credit facilities agreement with SAIB, and then raised the financing to SAR 200 million, according to data available with Argaam. 

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