Watani Iron Steel fully repays loan from SABB- Alawwal Bank

Repaying the credit facility will contribute to reducing financing expenses

  
Image used for illustrative purpose. Stainless Steel pipes - Engineering Workshop, Port Elizabeth, South Africa.

Image used for illustrative purpose. Stainless Steel pipes - Engineering Workshop, Port Elizabeth, South Africa.

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Riyadh – Mubasher: Watani Iron Steel Company has fully repaid a short-term loan worth SAR 40 million from Saudi British Bank (SABB)- Alawwal Bank, according to a bourse filing on Tuesday.

Repaying the credit facility will contribute to reducing financing expenses, which will positively reflect on Watani Iron Steel’s financial results as of the second half (H2) of 2021.

The steel firm has been listed and trading on the Saudi Exchange’s (Tadawul) Nomu-Parallel Market Capped Index (NomuC) since February this year.

Source: Mubasher

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