The National Industrialization Co. (Tasnee) said in a bourse statement that it signed on Jan. 22 a Murabaha financing agreement worth SAR 1.200 billion with 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.
The loan is payable in equal semi-annual installments with an order note guarantee.
The loan will be used to partially finance the acquisition of the additional shares in Cristal. Photo Credit: Arabianeye-Reuters