Zahrat Al Waha pays off entire loan to Alinma Bank

08/06/2021 Argaam

Logo of Zahrat Al Waha

Zahrat Al Waha for Trading Co. re-paid the full long-term loan to Alinma Bank on June 6, 2021, the company said in a bourse filing.

 

The company made an early payment of the remaining balance of the loan, according to the bank facilities contract obtained for financing capital expansions, with a total amount of SAR 11.02 million, for a period of three years, starting July 2, 2018.

 

This will have an impact on the company’s loan balance, as part of its plan to reduce loans and rely on self-finance to fund the purchase of assets or working capital. 

 

The loan repayment will boost the company’s financial position, the statement added. 

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