Riyadh – Mubasher: East Pipes Integrated Company for Industry has sealed a Sharia-compliant facility agreement worth SAR 275 million with the National Bank of Kuwait (NBK).

The Saudi company obtained the loan to finance the working capital of one of its projects, according to a recent bourse disclosure.

Meanwhile, the 360-day facility deal is secured by a promissory note worth the total value of the funding.

Last June, East Pipes Integrated secured a loan worth SAR 500 million from Arab National Bank (ANB).