Riyadh-Mubasher: The refinancing agreement signed by Saudi Mobile Telecommunications Co. (Zain KSA) comes as part of its transformation plan, according to Zain KSA Chief Financial Officer Wissam Farhat.

The success of Zain KSA’s plan contributed to the improvement of its financial performance in the last six quarters.

The new deal includes competitiveness conditions which are a positive thing compared to the challenges the market faces.

The telecom operator works on improving its financial indicators, Farhat added.

Zain KSA inked a two-year long-term commercial refinancing agreement, extendable to an additional one year, with a total value of SAR 2.25 billion, with a banking coalition led by the Arab National Bank (ANB).