BSF approves Najran Cement’s request to pre-settle SAR 15 mln instalment

31/12/2019 Argaam

 

Banque Saudi Fransi (BSF) approved Najran Cement Co.’s request to pre-settle one loan instalment worth SAR 15 million, due on Sept. 30, 2020, it said in a filing to Tadawul on Tuesday.

 

Accordingly, the outstanding balance of this loan, provided to finance the Waste Heat Recovery (WHR) project, will be SAR 45 million.

 

The transaction is in line with the firm’s strategy of improving its financial efficiency, the statement said.

 

In July 2019, Najran Cement agreed with BSF on an early repayment of the loan instalment amounting to SAR 15 million, due on Sept. 30, 2019.

 

In September 2019, the Saudi-based firm pre-settled three loan instalments with BSF worth SAR 45 million.

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