19
Oct
12:21
Saudi’s Watani Steel inks fresh working capital loan
Saudi Arabian long steelmaker Watani Iron Steel Company (WISC) has received fresh short-term credit worth SAR 25 million ($6.66m) from Alinma Bank, to finance working capital.
The funding duration will be for 11 months until 31 August 2022 from the day of signature, Watani says in a bourse filing seen by Kallanish.
The short-term credit facility agreement was renewed to finance working capital with the same value of SAR 25m, with a reduction in the profit ra…
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