Sign in
Marafiq signs agreements with local lenders to extend loan terms: The Power and Water Utility Company for Jubail and Yanbu (Marafiq) inked agreements with Banque Saudi Fransi, Saudi Awwal Bank, and Saudi National Bank rescheduling SAR 5.9 bn in Shariah-compliant loans, according to a disclosure to Tadawul.
The new timeline: The revised agreements see grace periods for the loans extended by three years, pushing the start of repayments to June 2028 from June 2025. Meanwhile, the new terms retain the original financing period which ends in December 2034.
IN OTHER DEBT NEWS-
Dr. Soliman Abdul Kader Fakeeh Hospital Company (Fakeeh Care) has renewed a SAR 750 mn Shariah-compliant credit facility with Arab National Bank, it said in a disclosure to Tadawul. The facilities — which are mainly composed of long term loans backed by promissory notes — will support the group’s expansion plans and will be accessible to all its subsidiaries.
National Building subsidiary Ajeej Steel has renewed a SAR 127 mn Shariah-compliant credit facility with Al Rajhi Bank for an additional 4-48 months, according to a disclosure to Tadawul from its parent company. The loan will go towards supporting Ajeej Steel’s working capital.
