Riyadh — Mubasher: Al Yamama Steel Industries Company announced that its subsidiary, Al Yamamah Company for Reinforcing Steel Bars, has finalized a Sharia-compliant credit facilities agreement with Arab National Bank (ANB).
The financing package is valued at SAR 500 million and is secured by a promissory note, according to a bourse filing.
The credit facility carries a duration of seven years, with the signing date on 24 August 2026.
Meanwhile, the primary purpose of the financing is to fund the construction of a new steel billets plant.
The subsidiary is a closed joint-stock subsidiary with an independent legal personality.
Al Yamama Steel stated that related procedures will be completed sequentially following the signing.
The disclosure confirmed that there are no related parties involved in the transaction, adding that this strategic financing supports the subsidiary's industrial expansion plans within the kingdom's steel manufacturing sector.
