National Building obtains SAR 45 mln short-term loan from Riyad Bank

09/08/2021 Argaam

Logo of National Building and Marketing

National Building & Marketing Co. announced the signing of a Sharia-compliant banking facility agreement with Riyad Bank, worth SAR 45 million, according to a bourse filing.

 

The facilities will be used to finance working capital and enhance the company's activity.

 

The company, whose shares are listed on Nomu, obtained the short-term loan today, Aug. 9, based on the strength of its financial position against.

 

The revolving facility is renewable every year and is secured by a promissory note.

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