![National Building raises credit facilities with Riyad Bank by SAR 50 mln](https://argaamplus.s3.amazonaws.com/094f8da2-c642-4593-9125-d7838236aa56.png)
Logo of National Building and Marketing Co.
National Building and Marketing Co. (
NBM) signed an agreement with
Riyad Bank to increase its Shariah-compliant credit facilities by SAR 50 million.
The Tawarruq financing will be used as working capital for existing projects, the company said in a statement on Tadawul.
The financing period is 12 months.
The new facility is covered by a promissory note on the same terms approved by Riyad Bank for the previous facilities, the statement added.
There are no related parties.
In August 2021, National Building signed a Shariah-compliant banking facility agreement with Riyad Bank worth SAR 100 million. It was renewed in August 2022 by an additional SAR 45 million, according to data available with Argaam.
Comments {{getCommentCount()}}
Be the first to comment
رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}
{{comment.DisplayName}}
{{comment.ElapsedTime}}