Watani Steel renews SAR 70.5M credit facilities with Bank Albilad

09/12/2024 Argaam
Logo ofWatani Iron Steel Co.

Logo of Watani Iron Steel Co. 

Watani Iron Steel Co. renewed today, Dec. 9, Shariah-compliant credit facilities with Bank Albilad at a total value of SAR 70.5 million, according to a statement to Tadawul.

 

The financing, secured by a promissory note equal to the facility's value, spans from Dec. 3, 2024, to Nov. 7, 2025 and will be used to support working capital.

 

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There are no related parties to the deal, the statement said.

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