Saudi Kayan Petrochemical Co. has signed on November 19 a Murabaha credit facility agreement with the National Commercial Bank (NCB) and Samba Financial Group.
The company will raise SAR 1.500 billion from NCB and SAR 1.125 billion from Samba, with maturity periods of 15 and 10 years, respectively.
The financing is supported and guaranteed by SABIC, the major shareholder in Kayan.
The loans will be used in financing the company’s projects.