Elm renews SAR 500M credit facility deal with Al Rajhi Bank

Elm Co. renewed a Shariah-compliant credit facility worth SAR 500 million with Al Rajhi Bank, according to a statement to Tadawul on Oct. 6.

The 12-month facility is secured by a promissory note for the full amount of the financing.

The funds will be used to finance working capital and facilitate bank guarantees.

According to Argaam data, Elm secured the credit facility from Al Rajhi Bank in September 2023. It was renewed in 2024 and 2025.