Watani Iron Steel Company (Watani Steel) announces the signing of a short-term (Shari’ah-compliant) bank facility agreement with Arab National Bank that includes working capital financing facilities.
- Date: 16-May-2022
- Source: Mubasher
- Sector:Economy
- Country:Middle East
Watani Iron Steel Company (Watani Steel) announces the signing of a short-term (Shari’ah-compliant) bank facility agreement with Arab National Bank that includes working capital financing facilities.
|Element List||Explanation|
|Introduction|| Watani Iron Steel Company (Watani Steel) announces the signing of a short-term (Shari’ah-compliant) bank facility agreement with Arab National Bank
|
|Date of obtaining the funding||2022-05-10 Corresponding to 1443-10-09|
|Financing entity||Arab National Bank|
|Financing amount.||20 Million Saudi Riyals|
|Financing duration.||From 10/05/2022 To 30/04/2023|
|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||No related parties on this agreement.|
|Additional Information||Signatures completed on 16/05/2022|
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