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Mobile Telecommunication Company Saudi Arabia (Zain KSA) announces signing a new SAR 2.25 billion Islamic Murabaha facility agreement to refinance its existing commercial loan with better terms.

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Introduction Mobile Telecommunication Company Saudi Arabia (Zain KSA) announces signing a new SAR 2.25 billion Islamic Murabaha facility agreement to refinance its existing USD 599,808,061.42 (SAR 2,249,280,230.33) commercial loan with better terms reflecting the improvement in the Company’s performances and the continuous trust and support of the core banking group participating in the transaction.
Date of receiving Credit Facility 2019-06-16 Corresponding to 1440-10-13
Creditor A consortium of five banks: Al Rajhi Banking and Investment Corporation, Arab National Bank, Banque Saudi Fransi, First Abu Dhabi Bank PJSC (Saudi Branch), SAMBA Financial Group.
Credit Facility value SAR 2.25 Billion
Credit Facility duration Two years, with the option to extend it for one year at the Zain’s KSA request.
Guarantees provided for credit facility This loan is fully secured by a corporate guarantee from Mobile Telecommunications Company K.S.C.P (Zain group).
Reason for Credit Facility To repay the existing facility with Commercial and Industrial Bank of China indicated in the Company’s announcement on Tadawul website dated 16-08-2016, with with better terms and reduced cost Islamic Murabaha facility.
Related Parties None
Additional Information This agreement have better terms and conditions compared to the previous facility; hence, there is no material financial impact.

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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