Zahrat Al Waha Trading Company announced the renewal of a credit facility agreement in compliance with the Sharia regulations of Alinma Bank.
The company said in a statement to the Saudi market (Tadawul) today, Sunday, that the value of the financing is estimated at 63.48 million riyals.
She explained that the funding period extends from September 3, 2020 to June 30, 2021.
It also indicated that the guarantees provided in exchange for financing include issuing a bond for an order presented by the company with the total value of the facilities.
and she pointed out that the limit for opening credits and short-term facilities for financing working capital has been renewed at the same value (60 million riyals), and the limit for facilities to purchase machinery and equipment has been reduced from 7.4 One million riyals, to 3.48 million riyals, as a result of reimbursements.
Zahrat Al Waha confirmed that there are no related parties between the parties to the agreement.
(Amazon Fun Knowledge)
