Riyadh - Mubasher: National Environmental Recycling Company (Tadweeer) secured a SAR 90 million loan from the Saudi Industrial Development Fund (SIDF) on 28 August.
This falls as part of the SAR 170 million credit facilities obtained from the Saudi Awwal Bank (SAB) last April, according to a bourse filing.
The package includes a SAR 45 million bank guarantee in favor of a government lending institution, SAR 90 million bridge financing tied to the government loan, and SAR 35 million for working capital financing.
On a separate note, Tadweeer’s board members recommended increasing the capital to SAR 232.32 million from SAR 116.16 million.
Meanwhile, SAB recently completed the issuance of USD 1.25 billion Tier 2 capital green notes.
