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BRIEF-Saudi's Tasnee signs syndicated murabaha facility agreement for 2.93 bln riyals
October 26, 2017 / 5:21 AM / in a month

BRIEF-Saudi's Tasnee signs syndicated murabaha facility agreement for 2.93 bln riyals

Oct 26 (Reuters) - NATIONAL INDUSTRIALIZATION COMPANY

* SIGNS SYNDICATED MURABAHA FACILITY AGREEMENT FOR 2.93 BILLION RIYALS

* PURPOSE OF FACILITY IS TO REFINANCE CO‘S EXISTING FACILITIES AND REDUCE PRINCIPAL INSTALMENTS IN EARLY YEARS TO SUPPORT CO‘S CASH FLOWS DURING PERIOD

* FACILITY INCLUDES SIGNING OF PROMISSORY NOTES AS A SECURITY

* SAYS LAST INSTALMENT IS DUE IN Q1 OF 2024 COMPARED TO Q4 OF 2021 BEFORE REFINANCING

* IN ADDITION, CO HAS SIGNED SECOND SYNDICATED MURABAHA FACILITY AGREEMENT OF 981.8 MILLION RIYALS WITH EACH OF RIYAD BANK AND SABB

* SAYS LAST INSTALMENT OF 981.8 MILLION RIYALS FACILITY IS DUE IN Q1 OF 2024 COMPARED TO Q4 OF 2020 BEFORE THE REFINANCING Source text for Eikon: Further company coverage:

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