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Watani Iron Steel Co. Announces Obtaining a renewal of a bank facility agreement (in compliance with Islamic Sharia provisions) with Alinma Bank
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WATANI STEEL
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1446/02/29 02/09/2024 15:40:00
| Element List | Explanation |
|---|---|
| Introduction | Watani Iron and Steel Company announces the renewal of a bank facility agreement (compliant with the provisions of Islamic Sharia) with Alinma Bank |
| Date of obtaining the funding | 2024-09-01 Corresponding to 1446-02-28 |
| Financing entity | Alinma Bank |
| Financing amount. | 25 Million Saudi Riyals |
| Financing duration. | From 01/09/2024 To 30/08/2025 |
| Guarantees offered for the financing | The facility agreement is secured by a promissory note with the value of the facilities in favor of the bank. |
| Financing objective | The purpose of the facility is to finance the working capital of the company |
| Related Parties | n/a |
| Additional Information | The short-term credit facility agreement was renewed to finance working capital with the same value of 25,000,000 riyals. Signatures and procedures were completed by the end of 02/09/2024 |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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