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21/01/2015 15:04 AST
Saudi Arabia's Sahara Petrochemical Company said its subsidiary Al Waha Petrochemicals had secured SR1.96 billion ($522 million) from two local lenders to refinance an existing Islamic loan.
The previous loan amount wasn't given but the firm said the deal had been signed in 2006 with a number of commercial lenders and two government funds -- the Public Investment Fund and the Saudi Industrial Development Fund -- during the project phase.
The new loan had more favourable pricing and conditions than the existing deal. The facility was provided by Saudi British Bank and Banque Saudi Fransi and lasts until the end of 2026, Sahara said in the statement.
The company also signed a revolving Murabaha-structured facility worth SR375 million from Saudi British Bank for one year, which can be renewed yearly to support the working capital and the company's general operations, it said.
Murabaha is a cost-plus sale arrangement which is commonly used in many parts of the Islamic world.
Reuters
27/01/2016
Sahara announces to its shareholders the developments of proceeds from the rights issue received on 23/12/2011G. Up to the end of the fourth quarter of 2015 the company has used the following amounts
Tadawul
24/12/2014
The Board of Directors of Sahara Petrochemical Co. meeting was held under the Chairmanship of H.E. Abdulaziz A. Al-Zamil Today December 24, 2014 has recommended the distribution of dividends to the s
Tadawul
18/08/2014
Saudi Arabian petrochemical producer Sahara Petrochemical Co. said a shutdown in polypropylene output at its subsidiary Al-Waha Petrochemicals may reduce profit in the third quarter by nearly SR9 mil
Arab News
| Ticker | Price | Change |
|---|---|---|
| BURGERIZZR | 12.50 | -0.50 (-3.85 |
| ALMUTAHED | 0.00 | 0.00 (0.00 |
| ALMAL | 0.00 | 0.00 (0.00 |
| ALAMAN | 0.00 | 0.00 (0.00 |
| MASSALEH | 0.00 | 0.00 (0.00 |
21/02/2025
Abu Dhabi's Adnoc raised about Dh10.4 billion ($2.84 billion) from the sale of 3.1 billion shares in Adnoc Gas on "exceptional" demand from Gulf and international institutional investors.
Th
The National
20/02/2025
Saudi Tadawul Group said it's targeting more mergers and acquisitions as it looks to further develop the local capital market and draw in foreign investors.
The owner of the Saudi stock excha
Bloomberg
20/02/2025
In a grand display of community spirit and dedication to sustainability, LuLu Saudi Hypermarket hosted the highly anticipated LuLu Walkathon on Saturday, February 15, 2025, to commemorate Saudi Found
Saudi Gazette
19/02/2025
Commercial Bank has participated in the 'Tawteen' initiative, a nationalisation programme led by the Ministry of Labour (MoL) aimed at empowering Qatari nationals in line with Qatar National Vision 2
Gulf Times
18/02/2025
The Saudi Dairy and Food Products Company participated in the 12th Career Forum at King Abdulaziz University. The event took place from Feb. 2 to 6, under the patronage of Prince Saud bin Mishal bin
Arab News
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