Tadawul-listed plastic-maker Zahrat Al Waha (Oasis) renewed a SAR 240 mn shariah-compliant loan agreement with Saudi Investment Bank, it said in a filing to Tadawul. The Riyadh-based company will use the fresh financing to invest its manufacturing capacities.

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What we know: The credit facility runs until the end of June 2025, and is guaranteed by order notes, and the mortgage of the company’s investment portfolio shares. There are no related parties to the agreement.

Where the funds are going: The financing will cover the purchasing and importing of essential raw materials needed for manufacturing, according to the disclosure. The funds will also be used to finance Oasis’ public investments and support its real estate ventures.

IN OTHER DEBT NEWS-

Halwani restructures debt with Al Rajhi Bank: Tadawul-listed food manufacturer Halwani Brothers inked a banking facilities agreement with Al Rajhi Bank to restructure some of their outstanding debt with the local lender, according to a disclosure to Tadawul. Some SAR 65 mn of the company’s working capital facilities have been reclassified into medium-term loans which are set to run until the end of September, 2028.

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