Al-Babtain Power & Telecommunication Company SJSC
Al-Babtain Power & Telecommunication Company SJSC
10/21/2021 | Press release | Distributed by Public on 10/22/2021 09:50
تعلن شركة البابطين للطاقة والاتصالات عن حصولها على تمويل بنكي متوسط الأجل بنظام تمويل مرابحة إسلامي
Al Babtain Power and Telecommunication company announces obtaining Bank Financing through medium- term Islamic Murabaha Finance.
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| Element List | Explanation |
| 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 |
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.