National Building raises financing limit with Riyad Bank

Logo of National Building and Marketing Co. (NBM)

National Building and Marketing Co. (NBM) signed an agreement to increase the limit of its Shariah-compliant banking facilities granted by Riyad Bank by SAR 90 million.

The financing duration is 24 months, with guarantees provided based on previously approved bank terms, the company said in a statement to Tadawul.

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The funding will finance ongoing project supplies.

There are no related parties to the deal, the statement added.