Zahrat Al Waha renews SAR 60 mln credit facility with Alinma Bank

14/07/2021 Argaam

Logo of Zahrat Al Waha for Trading Co.

Zahrat Al Waha for Trading Co. announced today, July 14, the renewal of Sharia-compliant credit facilities agreement with Alinma Bank.

 

The limit for opening short-term letters of credit and facilities was renewed at the same value of SAR 60 million, Zahrat Al Waha said in a statement to Tadawul.

 

The facility term is valid from today until June 30, 2022, and is guaranteed by a promissory note, covering the entire value of the facility.

 

The loan will be used for opening letters of credit (LCs) for the purchase of raw materials, machinery and equipment.

 

There are no related parties to the agreement, the statement added.

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