Arabian Cement’s Jordanian affiliate obtains SAR 530 mln loan

Arabian Cement Co.’s Jordanian affiliate, Qatrana Cement, on Thursday inked a credit agreement worth SAR 530 million (JOD 100 million) with Arab Bank in Jordan.

The loan will be repaid in 16 equal semi-annual installments, the first of which is due on January 16, 2018, the Saudi cement producer said in a statement on Tadawul.

No guarantees were necessary by the company’s to cover the credit except for the usual undertakings admissible by commercial banks, the company added.

The amount will go towards repaying part of the loan presented by the mother company, Arabian Cement Co.