12
Jul
11:57
East Pipes secures working capital for projects financing
Saudi Arabia's East Pipes Integrated Company for Industry (EPIC) has signed a working capital facility agreement worth SAR 1.1 billion ($293.3 million) with Banque Saudi Fransi, Kallanish notes.
The credit complies with the provisions of Islamic Sharia and is to be used for financing the company's projects, according to a bourse filing.
No third parties were involved. The financing duration is 459 days and a promissory note of SAR 1.15 billion ($306m) was…
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