Al-Babtain inks SAR 100 mln Murabaha facility deal with SAIB

26/01/2020 Argaam

 

Al-Babtain Power & Telecommunication Co. (Al-Babtain) inked on Jan. 23 a medium-term Sharia-compliant Murabaha financing facility worth SAR 100 million with the Saudi Investment Bank (SAIB), according to a bourse filing on Sunday.

 

The 3-year facility, which will be repaid in monthly installments, will be used to restructure a part of short-term loans and replace them with medium-term ones to improve liquidity, the statement added.

 

The financial impact of the new loan will be reflected on the company’s cash flows during the first half of 2020 and following years.

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