Alkhorayef Water signs SAR 150 mln credit facility with SABB

05/10/2021 Argaam

Logo of Alkhorayef Water and Power Technologies Co.

Alkhorayef Water and Power Technologies Co. (AWPT) signed, today, Oct. 5, a Shariah-compliant credit facility agreement worth SAR 150 million with Saudi British Bank (SABB), the company said in a filing to Tadawul.

 

The one-year facility is renewable and is guaranteed by a promissory note.

The loan will be used to open letters of credit and issue letters of guarantee for facility tender bond, performance, and advance payment.

 

There are no related parties to the agreement, the statement added.

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