JABAL OMAR
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Jabal Omar Real Estate Development, a publically-traded company on Tadawul, said it signed on January 5 an Islamic financing agreement worth SAR 4 billion with the National Commercial Bank (NCB), according to the company’s filing to Tadawul.
On June 18, 2012, the real estate developer said it had concluded a syndicated loan agreement with some local banks. It announced on Sept. 25, 2012 that the financing agreement became effective.
NCB’s loan is to repay the amount withdrawn from the first syndicated loan which the company raised on Sept. 25, 2012 from six Saudi banks, which is called refinancing.
The refinancing gives Jabal Omar a grace period of three years instead of two. The repayment period will be 12 years instead of eight years for the pervious loan.
Photo Credit: Arabianeye-Reuters
On June 18, 2012, the real estate developer said it had concluded a syndicated loan agreement with some local banks. It announced on Sept. 25, 2012 that the financing agreement became effective.
NCB’s loan is to repay the amount withdrawn from the first syndicated loan which the company raised on Sept. 25, 2012 from six Saudi banks, which is called refinancing.
The refinancing gives Jabal Omar a grace period of three years instead of two. The repayment period will be 12 years instead of eight years for the pervious loan.
Photo Credit: Arabianeye-Reuters
Source:
Mubasher
