Anmat renews, increases SAR 98M credit facility with Riyad Bank

Logo of Anmat Technology for Trading Co.

Anmat Technology for Trading Co. renewed and increased a Shariah-compliant credit facility to SAR 98 million with Riyad Bank, the company said in a filing to Tadawul.

The one-year financing, secured on Jan. 15, 2025, is aimed to support the company’s expansion plans for the execution of its projects. It is guaranteed by a promissory note, pledge of the company's stock portfolio, personal guarantee, and personal real estate mortgage.

For more news on listed companies

The company relied on personal guarantees provided by the shareholder and Chairman Deema bint Ayman Ahmed Aqilan, and the shareholder and Vice Chairman Sawsan bint Mohammed Ahmed Aqilan, and board member and CEO Bilal Abdulhaleem Aqilan, represented by a joint and several performance and guarantee covering the full facility limits, in addition to a personal real estate mortgage owned by the Chairman, as stated in the prospectus, according to the statement.

The bank obtained guarantees including a pledge of the company's stock portfolio, a personal and performance guarantee from the founder shareholders and the CEO, and a personal real estate mortgage from the founder shareholders, as stated in the prospectus, it added.

A copy of signed contract was received by the company on June 16, 2025.