National Building raises financing limit with Alinma Bank by SAR 50M

Logo of National Building and Marketing Co. (NBM) 

National Building and Marketing Co. (NBM) signed an agreement to increase the limit of its Shariah-compliant banking facilities granted by Alinma Bank by SAR 50 million.

The company obtained the revolving financing on July 4, it said in a statement to Tadawul, indicating that the financing period is for nine months.

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NBM obtained the financing under the same terms and conditions previously approved by the bank, bringing the total facilities to SAR 135 million after the increase.

The funding will boost its working capital requirements.

There are no related parties to the deal.