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16 December 2019

Saudi Arabia’s Mobily signs SAR a 7.6 billion Murabahah financing facility

The unsecured seven-years facility was financed by Riyad Bank, Arab National Bank as well as Banque Saudi Fransi, Saudi British Bank and SAMBA Financial Group.

Bloomberg/Simon Dawson

by Kudakwashe Muzoriwa

Saudi Arabia’s Etihad Etisalat Company (Mobily) has signed a SAR 7.6 billion Murabahah facility with a consortium of local banks to replace the existing syndicate financing and to reduce the cost of financing with better financing terms and conditions.

Mobily stated that the refinancing agreement will significantly reduce the cost of debt for the company over the coming few years and it is part of the company’s management continues efforts to improve liquidity and improve terms and conditions.


RELATED STORIES: Arab National Bank Murabahah Mobily Etihad Etisalat Company Riyad Bank Saudi British Bank



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