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National Industrialization Co. announces obtaining of murabaha facility agreement for the purpose of refinancing Sukuk

TASNEE 2060 1.66% 17.20 0.28

Element List Explanation
Introduction National Industrialization Company (Tasnee) announces that it has signed a murabaha facility agreement with Banque Saudi Fransi for the purpose of refinancing its Sukuk maturing on 21/5/2019G.
Date of receiving Credit Facility 2019-01-01 Corresponding to 1440-04-25
Creditor Banque Saudi Fransi
Credit Facility value 2billion Saudi Arabian Riyal
Credit Facility duration 7 years
Guarantees provided for credit facility Promissory notes
Reason for Credit Facility Refinancing the Company’s Sukuk maturing on 21/5/2019G. in an amount of 2 billion Saudi Arabian Riyals
Related Parties None
Additional Information The facility is repayable in one instalment on the final maturity date at the end of the tenor and includes a number of conditions precedent for drawing down the facility. Any material developments will be announced as they occur.