Riyadh - Mubasher: Zahrat Al Waha for Trading Company has renewed a credit facilities agreement worth SAR 115.57 million with Saudi Investment Bank (SAIB).

In line with the Sharia regulations, the financing will extend from 3 April to 31 July this year, according to a recent bourse filing.

The facility agreement is secured by order notes worth the value of the total loan limit in addition to a mortgage of the company’s investment portfolio shares.

Through the credit facilities, Zahrat Al Waha seeks to purchase and import raw materials required for manufacturing activities, machines, and injection moulds to finance its capital expansion plans.

Last November, the two parties renewed a financing agreement at a total value of SAR 67.56 million.