Al-Babtain Power and Telecommunication Company signed SAR 300m Islamic bank facility agreement with Alinma Bank.
The Islamic credit has a term of 4 years effective June 18, 2014 and is covered by the company’s existing projects.
The agreement aims at restructuring outstanding short term debts into long term debts which will raise the liquidity needed to finance the company’s future needs.
The financial effect of this agreement is to be realized on the company’s cash flow starting from H2-2014.
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