National Building unit gets SAR 50M credit facility from Bank AlJazira

Logo of National Building and Marketing Co. (NBM)

National Building and Marketing Co.’s (NBM) subsidiary, Ajeej Steel Manufacturing Co. Ltd., secured today, June 4, Shariah-compliant credit facilities totaling SAR 50 million from Bank AlJazira.

In a statement to Tadawul, NBM said the facilities are intended to finance working capital requirements.

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

The financing agreement included a revolving tenure of 120 days, with guarantees including a promissory note and a joint liability guarantee from the owners.