Zahrat Al Waha renews credit facilities agreement worth SR148.7 mln with Arab National Bank

Zahrat Al Waha for Trading Co. announces the renewal of the credit facilities agreement worth SR 148.718 million that is in line with the Sharia regulations with Arab National Bank. The financing duration will be from 11-08-2022 to 31-05-2023, with an objective of opening LCs for purchase raw materials, machinery, and equipment.

The guarantees offered for the financing is order notes by the company with the total value of the facilities, and there are no related parties.

Additional Information:

The limit for opening LCs and short-term facilities to finance working capital has been renewed at an amount of 110,000,000 SR.

The limit for opening LCs and long-term facilities to finance the purchase of machinery and equipment has been renewed at an amount of 38,718,789 SR.