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Watani Iron Steel Co. Announces Obtaining the renewal of its Sharia-compliant banking facilities agreement with Bank Albilad
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WATANI STEEL
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1447/07/09 29/12/2025 15:35:19
| Element List | Explanation |
|---|---|
| Introduction | Watani Iron Steel Company announces the renewal of its Sharia-compliant banking facilities agreement with Bank Albilad |
| Date of obtaining the funding | 2025-12-28 Corresponding to 1447-07-08 |
| Financing entity | ALBILAD BANK |
| Financing amount. | 70.5 Million Saudi Riyals |
| Financing duration. | From 28/12/2025 To 11/12/2026 |
| Guarantees offered for the financing | The facility agreement is secured by a promissory note for the value of the facility 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 for working capital financing was renewed for the same value of SAR 70,500,000, and the signatures and procedures were completed on 29/12/2025. |
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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