Al-Babtain secures SAR 250 mln Murabaha credit facility from Al Rajhi Bank

21/10/2021 Argaam

Logo of Al-Babtain Power and Telecommunication Co.

Al-Babtain Power and Telecommunication Co. signed a SAR 250 million worth of Murabaha credit facility agreement with Al Rajhi Bank, the company said in a bourse filing today, Oct. 21.

 

The medium-term facility will be guaranteed by order notes at SAR 282 million.

 

The facility tenor will extend for four years. It will be used to reschedule short-term loans into medium-term debt, which will boost the company’s cash flows.

 

The deal involved no related parties, the statement added.

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