Alkhorayef Water secures SAR 275M credit facilities from Bank Albilad

27/05/2024 Argaam

Alkhorayef Water secures SAR 275M credit facilities from Bank Albilad

Logo of Alkhorayef Water and Power Technologies Co.

Alkhorayef Water and Power Technologies Co. obtained today, May 27, Shariah-compliant credit facilities worth SAR 275 million from Bank Albilad, according to a statement on Tadawul.

 

The facilities are valid until March 5, 2025, covered by a promissory note, the statement added.

 

The agreement offers Shariah-compliant financing for issuing all types of governmental and non-governmental guarantees, letters of credit, and project progress payments, it noted, indicating that there are no related parties to the deal.

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