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The National Industrialization Company (TASNEE) announces that it has signed an Islamic Financing Agreement

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TASNEE announces that it has signed on Thursday, 2/4/1436 (22/1/2015), an Islamic Murabaha Financing Agreement in the amount of One Billion Two Hundred Million Saudi Riyals (SAR 1,200,000,000) with each of Riyad Bank and Saudi British Bank. The agreement has a competitive floating-rate Murabaha structure, a five year tenor with one year grace period and an optional one year extension, and is payable in equal semi-annual installments with an order note guarantee.

The proceeds from the agreement will be used to partially finance the acquisition of the additional shares in Cristal previously announced on Tadawul on 15/2/1436 (7/12/2014).

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