Logo of Al-Babtain Power and Telecommunication Co.
Al-Babtain Power and Telecommunication Co. inked today, Dec. 19, a SAR 200 million worth of a long-term Tawarruq facility agreement with Banque Saudi Fransi (BSF), according to a statement to Tadawul.
The facility tenure will extend for five years. It will be guaranteed by promissory notes, in addition to a waiver of project revenue.
It will go for rescheduling some short-term loans and converting them into long-term debt. Accordingly, this will increase the liquidity required to finance the company’s future needs.
The deal included no related parties, the statement added.
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