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04/12/2014 07:52 AST
Marafiq, a utility services provider to two industrial cities in Saudi Arabia, has signed a SR2.5 billion ($666.1 million) Islamic loan, which will partly be used to expand capacities in its existing projects, it said in a statement on Wednesday.
The new long-term facility was arranged by HSBC's Saudi Arabian arm, the statement said, without revealing the tenor and pricing of the transaction. The company, which counts Saudi Basic Industries Corp. and Saudi Aramco as shareholders, will use the murabaha-structured facility for capacity expansion plans in different projects located in Jubail and Yanbu. A murabaha is a cost-plus-profit arrangement which is one of the most popular formats for structuring Islamic loans. Al-Rajhi Bank, National Commercial Bank, Riyad Bank, Samba Financial Group and Saudi British Bank joined the facility, the statement said.
Marafiq's last fundraising was its debut SR2.5 billion sukuk in 2013, and its previous syndicated murabaha facility transaction was for SR4.5 billion, which completed in 2012.
Arab News
01/06/2014
The Power and Water Utility Company for Jubail and Yanbu (Marafiq) is to build its new head office in the Jubail Industrial City. The company recently concluded a construction agreement with Azmeel C
Arab News
13/06/2013
The Power and Water Utility Company for Jubail and Yanbu (Marafiq) has signed a deal with French Sidem and Sidem Saudi Arabia, both affiliated to Veolia Water Company, whereby the latter will underta
Arab News
28/09/2012
Saudi Arabia's Power and Water Utility Company for Jubail and Yanbu, known as Marafiq, signed contracts for two projects in Jubail that include a reverse osmosis desalination plant, a section of the
Saudi Gazette
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| TAQA | 3.36 | -0.01 (-0.30 |
| ACWAPOWER | 192.00 | -2.50 (-1.29 |
| DEWA | 2.77 | 0.00 (0.00 |
| SAUDIELECTRICITY | 14.14 | -0.01 (-0.08 |
| EMPOWER | 1.56 | -0.03 (-1.89 |
30/12/2025
QNB Group announced the launch of its first-ever sonic identity, marking a new milestone in the bank's brand evolution and customer engagement journey.
Developed in collaboration with Sixièm
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A statement by the
The Peninsula
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Jazeera Airways, Kuwait's low-cost carrier, has signed a strategic Memorandum of Understanding (MoU) with Amman City Airport.
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Trade Arabia
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e& UAE, the flagship telecom arm of global technology group e&, in partnership with ZTT, a leading provider of advanced fibre optic solutions, has announced the completion of the region's first hollo
Trade Arabia
Financial Information Co.
Saudi Arabia