East Pipes signs SAR 275 mln Shariah-compliant facility agreement with NBK

02/08/2022 Argaam
Logo of East Pipes Integrated Co.

Logo of East Pipes Integrated Co.

East Pipes Integrated Co. signed today, Aug. 2, a Shariah-compliant working capital facility agreement with National Bank of Kuwait (NBK), at a value of SAR 275 million, according to a bourse filing.

 

The facility will have a term of 360 days, said the company, adding that it will be guaranteed by a promissory note worth SAR 275 million.

 

The facility is aimed to finance the working capital of one of the company's projects. There are no related parties.

 

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