Tadweeer signs SAR 60M credit facility agreement with Riyad Bank

29/08/2024 Argaam
Logo ofNational Environmental Recycling Co. (

Logo of National Environmental Recycling Co. (Tadweeer) 

National Environmental Recycling Co. (Tadweeer) signed on Aug. 28 a Shariah-compliant banking facilities agreement worth SAR 60 million with Riyad Bank.

 

According to a statement to Tadawul, the financing period is one year from the date of financing working capital requirements, and five years from the date of financing capital expenditures.

 

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Tadweeer provided real estate guarantees and a promissory note for the value of the agreement, the statement added.

 

The agreement aims to provide facilities for financing working capital requirements (SAR 40 million) and capital expenditures (SAR 20 million).

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