Al Babtain Power and Telecommunication company announces obtaining Bank Financing through medium- term Islamic Murabaha Finance.
|Introduction||Al Babtain Power and Telecommunication company announces signed a medium - term Banking facilities agreement dated 21.10.2021 with Al Rajhi Bank through Islamic Murabaha Finance|
|Date of obtaining the funding||2021-10-21 Corresponding to 1443-03-15|
|Financing entity||Al Rajhi Bank|
|Financing amount.||250 Million Saudi Riyals|
|Financing duration.||Four Years|
|Guarantees offered for the financing||Order notes by amount 282 Million Saudi Riyals|
|Financing objective||For re-structure a part of short-term finances and transfer it to medium- term finance, which will reflect on increasing the necessary cash flow to finance the company needs.|
|Related Parties||No related party in this transaction|
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