Al-Babtain secures SAR 200 mln Islamic credit facility from GIB

07/12/2017 Argaam

 

Al-Babtain Power and Telecommunications Co. inked on Wednesday a SAR 200 million Islamic credit facility with Gulf International Bank (GIB), the company said in a bourse statement.

 

The loan has a term of four years starting Dec. 10, 2017, to be repaid in monthly installments.

 

The bank facility is aimed at restructure part of the company’s short-term loans to increase liquidity to finance future needs.

 

The financial impact will be reflected during H1 2018, the statement added.

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