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Sahara International Petrochemical Co. announces obtaining of Murabaha Facility

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Introduction Sahara International Petrochemical Company (Sipchem) announces that Sahara & Ma’aden petrochemicals company (SAMAPCO), one of Sahara affiliates, it’s subsidiary of Sipchem signed Islamic Facility agreement with local Banks to refinance its existing debt
Date of receiving Credit Facility 2019-06-24 Corresponding to 1440-10-21
Creditor Local commercial banks: Saudi British Bank, The National Commercial Bank, Riyad Bank, Bank Al-Bilad and Banque Saudi Fransi
Credit Facility value SAR 2,250 billion (USD 600 million)
Credit Facility duration Murabaha facility for 12 years to be repaid in 24 semi-annual scheduled installments starting on 31 December 2019.
Guarantees provided for credit facility No corporate guarantees.
Reason for Credit Facility The new debt will replace the existing debt, with more favorable terms.
Related Parties N/A
Additional Information Sahara & Ma`aden Petrochemicals Company is 50% owned by Saudi Arabian Mining Company (Ma’aden) and 50% owned by Sahara Petrochemical Company

The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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