Alkhorayef Water secures SAR 275M credit facilities from Bank Albilad

27/05/2024 Argaam
Logo ofAlkhorayef Water and Power Technologies Co.

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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