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FinancialNews


  • 24-12-19

    Murabaha financing deal to link Saudi Kayan Petrochemical Co., Banque Saudi Fransi

    (MENAFN) Saudi Kayan Petrochemical Co. said in a statement that it signed SAR 1.5 billion Murabaha financing deal with Banque Saudi Fransi (BSF).


    The company said in the statement that, the financing period is 8 years and a promissory note is covering the facilities.


    The credit plans to replace the lasting secondary loans outstanding by a new credit with less cost and better conditions.


    According to Saudi Kayan, the step is estimated to make a positive effect on the company's financials through dropping financial charges by almost SAR 25 million in 2020 and next years.

    MENAFN2412201900450000ID1099467811

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