Alkhorayef Water raises credit facilities with SAB to SAR 749M

16/05/2024 Argaam

Alkhorayef Water raises credit facilities with SAB to SAR 749M

Logo of Alkhorayef Water and Power Technologies Co.

Alkhorayef Water and Power Technologies Co. announced today, May 16, raising the value of the Shariah-compliant credit facilities signed with Saudi Awwal Bank (SAB) by SAR 230 million, according to a statement to Tadawul.

 

Thus, the value of current credit facilities will grow from SAR 519 million to SAR 749 million, it said.

 

The collateral provided for the financing has also been amended under a promissory note worth SAR 800.14 million. However, all other terms and conditions remain unchanged, it added.

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