Riyadh — Mubasher: Watani Iron Steel Company recently extended its Sharia-compliant bank facility agreement with Alinma Bank at a total amount of SAR 25 million, according to a bourse filing.
The short-term credit facility is intended to provide necessary funding for the company’s working capital needs.
Watani Iron Steel noted that the financing period for the renewed agreement extends from 23 August 2026 until 31 August 2027.
To secure the credit line, the listed company provided a promissory note for the full value of the facility in favor of Alinma Bank.
According to the regulatory filing, there are no related parties involved in this transaction.
Meanwhile, the renewal maintains the facility at the previous value of SAR 25 million, ensuring continued liquidity for the firm's operational activities through the end of August 2027.
