East Pipes signs SAR 500 mln financing agreement with Bank Albilad

06/03/2022 Argaam

Logo of East Pipes Integrated Company for Industry

 

East Pipes Integrated Company for Industry announced signing a working capital facilities agreement, compliant with Shariah, with Bank Albilad at a total value of SAR 500 million. 

 

The company said in a bourse filing that the financing duration is 351 days and a promissory note worth SAR 512.5 million was offered as a guarantee for the financing. 

 

The agreement aims to finance the working capital of one of the company’s projects. 

 

There are no related parties to the agreement. 

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