Saudi Lime obtains $37.33mln loan from ANB

The Sharia-compliant deal holds a tenor of seven years and is secured by a promissory note equivalent to the total financing amount

Staff Writer, Mubasher

March 13, 2024

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Riyadh - Saudi Lime Industries Company renewed its credit facilities agreement with the Arab National Bank (ANB) at a value of SAR 140 million on 12 March 2024.

The Sharia-compliant deal holds a tenor of seven years and is secured by a promissory note equivalent to the total financing amount, according to a bourse filing.

Saudi Lime will use the loan to back its strategic plans through expansion, investment, and growth operations.

Last month, the company inked a conditional agreement with Astra Industrial Group and Tharawat Mining Company to acquire Astra Mining Limited Company.

As of 31 December 2023, ANB recorded an annual rise of 32.60% in net profit to SAR 4.07 billion, compared to SAR 3.07 billion.

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