Watani Steel renews SAR 25 mln bank facility with Alinma Bank

12/10/2023 Argaam

Watani Steel renews SAR 25 mln bank facility with Alinma Bank

Logo of Watani Iron Steel Co. (Watani Steel)

Watani Iron Steel Co. (Watani Steel)  renewed a SAR 25 million Shariah-compliant bank facility agreement with Alinma Bank, to finance the company’s working capital.

 

In a statement to Tadawul, Watani Steel said the financing term is from Sept. 27, 2023, to Aug. 30, 2024.

 

The agreement is secured by a promissory note with the value of the facilities in favor of the bank.

 

There are no related parties to the agreement, the company noted.

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