Saudi Arabia-listed Zahrat Al Waha for Trading Company has renewed its existing credit facilities with Arab National Bank (ANB) with a lower financing limit.

The renewed Shariah-compliant facilities are for a financing of up to SAR 110 million ($29.3 million), lower than the previous SAR 145 million.

Zahrat opted not to renew the SAR 35 million long-term facilities following its decision to self-finance capital expansions and limit the value of borrowings.

The renewed facilities are intended to support the company’s working capital needs.

(Writing by Cleofe Maceda ; editing by Seban Scaria) seban.scaria@lseg.com