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East Pipes Integrated Company for Industry Announces Obtaining a Working Capital Financing

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Introduction East Pipes Integrated Company for Industry (East Pipes) announces the signing of a bank's working capital facilities agreement (compliant with the provisions of Islamic Sharia) with Arab national Bank.
Date of obtaining the funding 2022-06-07 Corresponding to 1443-11-08
Financing entity Arab national Bank.
Financing amount. 500,000,000 Saudi Riyals.
Financing duration. 365 days
Guarantees offered for the financing A promissory note by 500,000,000 Saudi Riyals.
Financing objective Financing the working capital of one of the company's projects.
Related Parties There are no related parties transactions in the agreement.
Additional Information Nothing.

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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