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Watani Iron Steel secures SAR 25m loan from Alinma Bank

Watani Iron Steel secures SAR 25m loan from Alinma Bank
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ALINMA
1150
0.90% 27.90 0.25
WATANI STEEL
9513
1.07% 75.80 0.80

Riyadh – Mubasher: Watani Iron Steel Company has obtained a short-term credit facility worth SAR 25 million from Alinma Bank.

The company has secured the Sharia-compliant loan on 27 September 2021 to finance its working capital, according to a bourse disclosure on Monday.

The funding duration will be for one year until 31 August 2022.

Watani Iron Steel said the facility agreement is secured by a promissory note with the value of the loan in favour of the bank.