National Building subsidiary renews SAR 127M credit facility with Al Rajhi Bank

National Building and Marketing Co.’s (NBM) subsidiary, Ajeej Steel Manufacturing Co., renewed today, Nov. 27, a Shariah-compliant banking facilities agreement worth SAR 127 million with Al Rajhi Bank, according to a statement on Tadawul.

The financing is secured by guarantees of debt and performance under the same terms and conditions previously approved by the bank.

The facilities aim to finance working capital requirements, the statement said, adding that no related parties to the deal.