Saudi Kayan signs SAR 3 bln credit facilities agreement with SNB

08/11/2022 Argaam
Saudi Kayan headquarters

Saudi Kayan headquarters


Saudi Kayan Petrochemical Co. signed an Islamic Murabaha facility agreement with Saudi National Bank (SNB) worth SAR 3 billion.

 

The company said today, Nov. 8, in a statement to Tadawul, that the financing was obtained on Nov. 3, for a period of five years.

 

Facility Agreement in Details

Lender

SNB

Value

SAR 3 bln

Financing Term

Five years

Offered Guarantees

Promissory note

Goal

To support and enhance working capital and financial efficiency

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