National Industrialization Co. Announces Obtaining a Murabaha Term Facility.
|Introduction||National Industrialization Company (Tasnee) announces the signing of a Murabaha Facility Agreement with each of the Saudi British Bank (SABB) and Riyad Bank for the purpose of refinancing its existing facilities dated 02/10/2013 G. and 22/01/2015 G.|
|Date of Receiving the Credit Facility||2019-09-09 Corresponding to 1441-01-10|
|Financier||Riyad Bank and The Saudi British Bank (SABB).|
|Credit Facility value||SAR 3 billion.|
|Credit Facility duration||10 years.|
|Guarantees Provided for Credit Facility||Promissory notes.|
|Purpose of the Credit Facility||Refinancing the Company's existing facilities dated 02/10/2013 G. and 22/01/2015 G.|
|Additional Information||The loan is payable in equal semi-annual installments with a final payment of SAR 1,195,000,000 due at Final Maturity.|
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