IssuerAnnouncementDetailsV2Portlet
Actions
Etihad Etisalat Co. (Mobily) announces the signing of a Murabaha financing agreement with the Saudi National Bank (SNB)
| Element List | Explanation |
|---|---|
| Introduction | Etihad Etisalat Co. (Mobily) announces the signing of a Murabaha financing agreement with the Saudi National Bank (SNB). This agreement, characterized by favorable terms and competitive interest rates, is for working capital financing, in addition to an additional medium-term Murabaha financing to facilitate the partial refinancing of existing debt obligations and aligns with Mobily's long-term financial and its capital restructuring strategy objectives. |
| Date of obtaining the funding | 2024-01-17 Corresponding to 1445-07-05 |
| Financing entity | Saudi National Bank (SNB). |
| Financing amount. | SAR 4.8 billion. |
| Financing duration. | 7 years. |
| Guarantees offered for the financing | The agreement does not include any mortgages or financial guarantees. |
| Financing objective | Working capital financing in addition to an additional medium-term Murabaha financing for the purpose of partial refinancing of the Company's existing debt obligations. |
| Related Parties | N/A |
| Additional Information | Mobily will use SAR 3.685 billion from the financing agreement to facilitate partial refinancing of the Company's existing Syndicated Murabaha amounting to SAR 5.333 billion. The Company’s financial and operational achievements along with its operational efficiency over the past years are key drivers to achieve an investment-grade credit rating and create an added value to its shareholders. This agreement signifies the trust of the financial institutions’ partners in Mobily’s capabilities and strategies. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
Share
Company Performance
Key Parameters
Last Price 51.3
Net Change 0.1 (+0.2%)
Value Traded (Sar) 67,147,102.6
Volume Traded 1,321,744
LoginPortletPopupv2
Actions
AddtoWatchlistv2
Actions