Alkhorayef Water and Power Technologies Co. Announces an update on obtaining a Bank Financing from Al Rajhi Bank

Alkhorayef Water and Power Technologies Co. Announces an update on obtaining a Bank Financing from Al Rajhi Bank

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Explanation

Introduction

Following the company's previous announcement regarding a Sharia-compliant financing agreement with Al Rajhi Bank, we inform you that in date of 20 May 2024, the value of the financing for the current credit facilities of SAR 200,900,000 has been increased by SAR 664,000,000 The total value of the facilities will now be SAR 864,900,000 The collateral provided for the financing has also been amended under a promissory note to SAR 910,868,214 while all other terms and conditions remain unchanged.

Previous Announcement

Alkhorayef Water and Power Technologies Co. Announces Obtaining a Bank Financing from Al Rajhi Bank

Date of Previous Announcement on Saudi Exchange’s Website

2022-06-02 Corresponding to 1443-11-03

Hyperlink to the Previous Announcement on the Saudi Exchange Website

Click Here

Latest Developments Of The Announced Event

The value of the financing for the current credit facilities of SAR 200,900,000 has been increased by SAR 664,000,000 The total value of the facilities will now be SAR 864,900,000 The collateral provided for the financing has also been amended under a promissory note to SAR 910,868,214 while all other terms and conditions remain unchanged.

The costs