10
Jun
13:33
Saudi East Pipes secures working capital fund
Saudi East Pipes Integrated Company has signed a one-year, Shari'ah-compliant bank facility agreement worth SAR 500 million ($133.3m) with Arab National Bank.
The funding is dated 7 June and will be used to finance the working capital of one of the company's projects, according to a bourse filing seen by Kallanish.
"There are no related parties involved in the agreement, and a promissory note secures the facility agreement with the val…
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