Molan Steel renews facilities agreement with AlBilad Bank for SAR 13 mln

Molan Steel Co. announced on Monday the agreement renewal of the credit facilities that are compatible with the provisions of Islamic Sharia with AlBilad Bank, amounting to (13,000,000) SAR (thirteen million riyals).

The purpose of the facilities is to finance working capital requirements, and the credit facilities are available until 27/07/2024.

The Company said Today on Tadawul that the guarantees provided in exchange for financing are promissory notes, fine and solidarity bond from the Chairman of the Board of Directors and his deputy.