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ADVANCED PETROCHEMICAL COMPANY ANNOUNCES OBTAINING OF ISLAMIC MURABAHA FACILITY

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Introduction Advanced Petrochemical Company (ADVANCED) is pleased to announce to its shareholders the signing of an Islamic Murabaha facility agreement
Date of Receiving the Credit Facility 2020-07-09 Corresponding to 1441-11-18
Financier Riyad Bank (Investment Agent), SAMBA Financial Group and Al Rajhi Bank
Credit Facility value Total Facility of SAR 1.5 Billion, however, utilization of this Facility will be based on actual drawdowns in line with financing requirements
Credit Facility duration Five and half years ending on 31/12/2025G
Guarantees Provided for Credit Facility Promissory notes
Purpose of the Credit Facility This Islamic facility will be utilized to finance the growth projects of ADVANCED and its subsidiary as announced earlier
Related Parties No related parties
Additional Information It is worthwhile to note that the above Islamic facility was concluded despite these difficult times due to Corona virus pandemic and slowdown of overall global economy and confirms the trust of lenders in ADVANCED’s capabilities and its achievements.

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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Value Traded (SAR) Volume Traded
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