Riyadh – Mubasher: Saudi Arabia-based Fawaz Abdulaziz Al Hokair Company has signed a seven-year agreement with some domestic and regional banks to obtain a Murabaha loan at a value of SAR 1.25 billion ($333 million).

The facility will be allocated to repay the Murbaha deal which was signed on 4 September 2014, according to a statement to the Saudi Stock Exchange (Tadawul).

The loan will be also used to settle the SAR 500 million sukuk which was issued on 24 September 2017, in addition to repaying the short-term loans.

By 11:32 am Saudi time, the stock inched up 0.19% to SAR 26.75.