National Building raises financing limit with Riyad Bank

National Building and Marketing Co. (NBM) signed an agreement to increase the limit of its Shariah-compliant banking facilities granted by Riyad Bank by SAR 90 million.

The financing duration is 24 months, with guarantees provided based on previously approved bank terms, the company said in a statement to Tadawul.

The funding will finance ongoing project supplies.

There are no related parties to the deal, the statement added.