Alkhorayef Water renews, amends SAR 277.2 mln Sharia-compliant facility with ANB

06/12/2021 Argaam

Logo of Alkhorayef Water and Power Technologies

Alkhorayef Water and Power Technologies (AWPT) renewed and amended today, Dec. 6, the Sharia-compliant facility agreement worth SAR 277.2 million with Arab National Bank (ANB), according to a bourse filing.

 

The facility, valid until June 30, 2022, is guaranteed by a promissory note.

 

The funding aims to issue letters of guarantee and credit, secure facilities to finance new projects, as well as invoice and project expenditure financing.

 

There are no related parties, the statement noted.

 

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