Tadweeer secures SAR 90M Islamic financing from SAB

02:27 PM (Mecca time) Argaam- Nomu
Tadweeer intends to use the funds to finance its working capital

Tadweeer intends to use the funds to finance its working capital

Nomu-listed National Environmental Recycling Co. (Tadweeer) announced the signing of an Islamic-compliant credit facility agreement with Saudi Awwal Bank (SAB) valued at SAR 90 million.

 

According to a statement on Tadawul, the company intended to finance its working capital.

 

The 12-month financing was obtained on Jan. 15. It is secured by a promissory note provided as a guarantee.

 

Tadweeer confirmed that no related parties are involved.

 

The company will disclose any material developments related to the credit facility in accordance with relevant regulations and instructions, it noted.

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