17
May
09:45
Saudi’s Watani Steel signs short-term financing agreement
Saudi Arabian long steelmaker Watani Iron Steel Company (WISC) has signed a short-term, Shari'ah-compliant bank facility agreement worth SAR 20 million ($5.33m) with Arab National Bank.
The financing, which runs from 10 May 2022 to 30 April 2023, will be used to strengthen the company's working capital, according to a bourse filing seen by Kallanish.
A promissory note secures the facility agreement with the value of the facilities in favour of t…
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Very good overview of the weekly steel market.
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