Watani Steel renews SAR 25M facility with Alinma Bank

Logo of Watani Iron Steel Co.

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

 

In a statement to Tadawul, Watani Steel said the financing term starts from Sept. 1, 2024 and ends on Aug. 30, 2025.

 

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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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