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Zahret Al Waha renews SAR 144m facility with ANB

Zahret Al Waha renews SAR 144m facility with ANB
The agreement extends from Wednesday 16 May 2018 to 28 February 2019
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Riyadh – Mubasher: Zahret Al Waha for Trading Company on Wednesday unveiled that the company renewed a SAR 144.13 million sharia-compliant credit facility with Arab National Bank (ANB).

The agreement extends from Wednesday 16 May 2018 until 28 February 2019, according to a filing to the Saudi Stock Exchange (Tadawul).

The credit facility will be allocated for purchasing and importing raw materials in order to fund working capital requirements and buy equipment, land and build warehouses, the Tadawul-listed firm noted. 

Meanwhile, the company's loan was guaranteed by a promissory note, the statement showed.