Watani Steel renews SAR 25M facility with Alinma Bank

02/09/2024 Argaam
Logo of Watani Iron Steel Co.

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.

 

For more news on listed companies

 

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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