National Building renews SAR 85M credit facility with Alinma Bank

National Building and Marketing Co. signed a renewal for the Shariah-compliant credit facilities agreement worth SAR 85 million with Alinma Bank, according to a statement to Tadawul.

The revolving loan agreement is valid for a period of nine months, the company pointed out, adding that the facilities are secured by a fine and performance guarantee with the same conditions and provisions previously approved by the bank.

The goal of the facilities is to finance working capital requirements, the company said, adding that there are no related parties.