ZAWYA-NEWS: Tadweeer secures $16mln Sharia-compliant facility from SNB

TADWEEER
Tadawul All Shares Index

TADWEEER

9540.SA

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Tadawul All Shares Index

TASI.SA

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Staff Writer

Nomu-listed National Environmental Recycling Co. (Tadweeer) has signed a Sharia-compliant credit facility agreement with Saudi National Bank (SNB) valued at 60 million riyals ($16 million). Tadweeer did not disclose the tenure or specific terms of the credit agreement.

The 12-months facility will be used primarily to refinance existing high-cost facilities, while the remaining portion will fund the company’s working capital needs.

The company’s stock is up 43.54% YTD.

(Writing by Ahmad Mousa; editing by Seban Scaria)
Ahmad.mousa@lseg.com

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