Alkhorayef Water and Power Technologies Co. Announces an update on Obtaining a Banking facilities agreement Sharia-compliant with SAB Bank

Alkhorayef Water and Power Technologies Co. Announces an update on Obtaining a Banking facilities agreement Sharia-compliant with SAB Bank

Element List

Explanation

Introduction

Following to the company's previous announcement regarding a Sharia-compliant credit facilities agreement with SAB Bank, We inform you that in date of 16 May 2024, the value of the financing for the current credit facilities of SAR 518,993,000 has been increased by SAR 230,000,000 The total value of the facilities will now be SAR 748,993,000 The collateral provided for the financing has also been amended under a promissory note to SAR 800,141,000 while all other terms and conditions remain unchanged.

Previous Announcement

Alkhorayef Water and Power Technologies Co. Announces an update on Obtaining a Banking facilities agreement.

Date of Previous Announcement on Saudi Exchange’s Website

2022-09-28 Corresponding to 1444-03-02

Hyperlink to the Previous Announcement on the Saudi Exchange Website

Click Here

Latest Developments Of The Announced Event

We inform you that in date of 16 May 2024, the value of the financing for the current credit facilities of SAR 518,993,000 has been increased by SAR 230,000,000 The total value of the facilities will now be SAR 748,993,000 The collateral provided for the financing has also been amended under a promissory note to SAR 800,141,000