Zahrat Al Waha pays off SAR 33.5 million loan to SIDF

02/06/2021 Argaam

Logo of Zahrat Al Waha Trading Co.

Zahrat Al Waha for Trading Co. repaid a SAR 33.5 million worth of loan to the Saudi Industrial Development Fund (SIDF) on June 1, 2021, the company said in a bourse filing.

 

The loan repayment will reflect on the company’s deleveraging strategy, aimed at reducing loans and relying on self-financing in funding the purchase of assets or the requirements of the working capital.

 

The loan settlement will also help in boosting the company’s solvency and financial position.

 

In May 2020, the company signed a SAR 33.5 million loan facility with SIDF to finance the company’s working capital, Argaam reported.

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