Zahrat Al Waha for Trading Co announces the renewal of the credit facilities agreement that is in line with the Sharia regulations from Alinma Bank

Zahrat Al Waha for Trading Co. announces the renewal of the credit facilities agreement that is in line with the Sharia regulations from Alinma Bank

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Agreement renewal date: 14-07-2021 Corresponding to 04-12-1442

Agreement amount: 60,000,000 SR

Agreement duration: from 14-07-2021 to 30-06-2022

Guarantees offered for the agreement: Order Notes by the company with the total value of the facilities.

Agreement objective: Opening LCs for purchase raw materials.

Related Parties: There are no related parties.

Additional Information: The limit for opening short-term credits and facilities was renewed to finance working capital with the same value of 60,000,000 SR.

Zahrat Al Waha for Trading Co announces the renewal of the credit facilities agreement that is in line with the Sharia regulations with Arab National Bank

Zahrat Al Waha for Trading Co. announces the renewal of the credit facilities agreement that is in line with the Sharia regulations with Arab National Bank

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Agreement renewal date: 08-07-2021 Corresponding to 28-11-1442

Agreement amount: 82,175,000 SR

Agreement duration: from 08-07-2021 to 31-05-2022

Guarantees offered for the agreement: Order Notes by the company with the total value of the facilities.

Agreement objective: Opening LCs for purchase raw materials, machinery and equipment

Related Parties: There are no related parties.

Additional Information:

  • The limit for opening short-term credits and facilities was renewed to finance working capital with the same value of 70,000,000 SR.
  • The limit for the facilities to purchase machinery and equipment has been renewed and reduced from 22,993,396 SR to 12,175,000 SR because of payments.
Zahrat Al Waha Trading Company announces the repayment of a long term loan from Alinma Bank

Zahrat Al Waha Trading Company announces the repayment of a long-term loan from Alinma Bank.

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According to the bank facilities contract obtained by the company from Alinma Bank for financing capital expansions, with a total amount of 11,025,740 SR, a long-term loan for a period of three years, starting from the date of 2, July 2018.

Zahrat Al-Waha Trading Company announces that it has paid the loan on 6, June 2021, which it obtained from Alinma Bank, where the company made an early payment of the remaining balance of the loan, which will have an impact on the company’s loan balance as part of the company’s plan in its quest to reduce loans and work To rely on self-financing from the company’s cash to finance the purchase of assets or working capital, and it will also have an impact on the company’s financial position.