Bawan inks SAR 88.5 mln facility agreement with BSF to finance subscription in Aramco’s IPO

08/12/2019 Argaam

 

Bawan Company announced signed an SAR 88.5 million Sharia-compliant facility agreement with Banque Saudi Fransi (BSF) to finance its subscription in Saudi Aramco’s initial public offering (IPO).

 

The company said in a bourse statement that the loan’s term is for 5 years including a grace period of one year.

 

The Saudi-based firm will provide the lender with a bond with the whole sum of the loan, in addition to pledging the shares subscribed to in Aramco.

 

The deal has no related parties, the statement added.

 

For more details about Saudi Aramco IPO

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