Zain KSA secures SAR 1.9B Murabaha facility from Al Rajhi Bank

08:37 AM (Mecca time) Argaam
Logo ofMobile Telecommunication Company Saudi Arabia (Zain KSA)

Logo of Mobile Telecommunication Company Saudi Arabia (Zain KSA)

Mobile Telecommunication Company Saudi Arabia (Zain KSA) obtained, on Feb. 12, a Murabaha facility of SAR 1.9 billion from Al Rajhi Bank, according to a statement to Tadawul.

 

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The new facility will be used to repay an existing Murabaha facility with the Ministry of Finance.

 

The facility had annual repayments, with the last instalment scheduled for June 1,2027.

 

The new credit facility has better commercial terms, and will help implementing the company’s strategy and boosting its cashflows.

 

It will be settled after five years in one bullet payment on Feb. 17, 2030.

 

The deal was guaranteed by a promissory note and has no related parties, the statement added.

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