Announcement from Rabigh Refining and Petrochemical Company (Petro Rabigh) regarding the signing of joint revolving loans and facility agreements valued at SAR 7.5 billion.
| Element List | Explanation |
|---|---|
| Introduction | Rabigh Refining and Petrochemical Company (Petro Rabigh) announces three joint revolving loans and facility agreements valued at 7.5 billion Saudi riyals, which have been signed on Wednesday, 30 September 2020 |
| Date of Receiving the Credit Facility | 2020-09-30 Corresponding to 1442-02-13 |
| Financier | 1- Saudi Aramco Facility Agreement valued at SAR 1,875 million (The Lender is Saudi Aramco).
2- Shareholder Revolving Loan Agreement with Saudi Aramco valued at SAR 2,812.5 million (The Lender is Saudi Aramco). 3- Shareholder Revolving Loan Agreement with Sumitomo Chemical valued at SAR 2,812.5 million. (The Lender is Sumika Finance Co., Ltd.). |
| Credit Facility value | SAR 7.5 billion |
| Credit Facility duration | 1- Saudi Aramco Facility Agreement valued at SAR 1,875 million (The Lender is Saudi Aramco) (36 months after December 2020).
2- Shareholder Revolving Loan Agreement with Saudi Aramco valued at SAR 2,812.5 million (The Lender is Saudi Aramco) (36 months after December 2020). 3- Shareholder Revolving Loan Agreement with Sumitomo Chemical, valued at SAR 2,812.5 million. (The Lender is Sumika Finance Co., Ltd.) (36 months after December 2020). |
| Guarantees Provided for Credit Facility | No guarantees. |
| Purpose of the Credit Facility | General corporate and working capital purposes. |
| Related Parties | Founding shareholders: Saudi Aramco and Sumitomo Chemical Co., Ltd. |
| Additional Information | In case of any major update, it will be announced as they occur. |
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