Alkhorayef Water ups Alinma Bank credit facility to SAR 630M

Alkhorayef Water and Power Technologies Co. (AWPT) increased its credit facility with Alinma Bank by SAR 380 million, bringing the total from SAR 250 million to SAR 630 million, according to a statement to Tadawul today, Feb. 3.

The company amended the collateral, replacing it with a promissory note worth SAR 693 million, while all other terms remain unchanged.

Alkhorayef Water signed a SAR 250 million Shariah-compliant financing agreement with Alinma Bank in December 2021, according to Argaam’s data.