Zahrat Al Waha renews SAR 240M credit facilities with SAIB

30/09/2024 Argaam
Logo ofZahrat Al Waha for Trading Co.

Logo of Zahrat Al Waha for Trading Co.

Zahrat Al Waha for Trading Co. renewed a SAR 240 million Shariah-compliant credit facilities agreement with The Saudi Investment Bank (SAIB), the company said in a statement to Tadawul.

 

The funding extends from Sept. 30, 2024, until June 30, 2025.

 

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The facilities are covered by the company’s promissory covering the total value of the facilities and mortgage of Zahrat Al Waha’s investment portfolio shares.

 

The amount is intended to finance the purchase and import of raw materials required for manufacturing activity, purchasing and financing public investments, and financing real estate investments.

 

There are no related parties to the deal, the statement said.

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