Zahrat Al Waha cuts credit facilities with ANB to SAR 110M

03:58 PM (Mecca time) Argaam
Logo ofZahrat Al Waha for Trading Co.

Logo of Zahrat Al Waha for Trading Co.

Zahrat Al Waha for Trading Co. renewed its Shariah-compliant credit facility agreement with Arab National Bank (ANB), valued at SAR 110 million, to open letters of credit (LCs) for purchasing raw materials.

 

The facility amount was reduced from SAR 145 million to SAR 110 million, the company said in a statement to Tadawul today, Nov. 24.

 

Long-term facilities totaling SAR 35 million were not renewed as the company is shifting toward self-financing its capital expansions and reducing long-term debts.

 

The financing period runs from Nov. 24, 2025, to Oct. 31, 2026, the statement added, noting that the collateral provided is a promissory note issued by the company for the full value of the facilities.

 

There are no related parties involved, Zahrat Al Waha said.

 

According to data available by Argaam, the company renewed, in November 2024, its credit facility agreement with ANB for SAR 145 million.

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