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23/08/2017 11:21 AST
In an effort of rebalancing its debt exposure especially the Short Term portion, Fawaz Abdulaziz Al Hokair & Co. signed a new Murabaha Agreement with Alrajhi Bank under the following terms:
1.The Murabaha was signed on Tuesday 22nd of August 2017
2.Amount: SAR 1,250,000,000
3.Tenure: 7 Years
4.Issuer: Alrajhi Bank
5.Objective: repayment of all short term loans
6.Guarantee: corporate guarantee, sales proceeds deposit in the company's bank accounts in Alrajhi Bank
7.No related parties involved
8.Payment plan: progressive payment plan every six months
This Murabaha is an important milestone in the relationship between the two companies and will enable Fawaz Abdulaziz Al Hokair & Co. to rebalance a significant part of its Balance Sheet and to boost its ability to improve its performance.
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| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| JARIR | 12.48 | -0.02 (-0.16 |
| EXTRA | 90.10 | -0.10 (-0.12 |
| NICEONE | 35.95 | -0.25 (-0.70 |
| SASCO | 60.90 | 1.30 (2.18 |
| AMWAJINTERNATIONAL | 41.00 | -0.95 (-2.27 |
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Financial Information Co.
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