Zahrat Al Waha renews SAR 75.5 mln bank facility deal with SAIB

22/06/2020 Argaam

Zahrat Al Waha Trading Co. renewed a Shariah-compliant bank facility agreement worth SAR 75.56 million with The Saudi Investment Bank (SAIB), according to a bourse statement on Monday.

 

The loan tenure extends from today June 22, 2020 until March 31, 2021, and is guaranteed by a promissory note.

 

The credit facility will be used to purchase and import manufacturing raw materials, as well as machinery and injecting moulding systems to finance business expansion.

 

There are no related parties, the statement added.

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