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Kayan Signed Agreement with Banque Saudi Fransi

Source: www.gulfoilandgas.com 3/20/2011, Location: Middle East

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Saudi Kayan announces that it has signed two billions Saudi Riyal murabaha facility agreement with Banque Saudi Fransi with a tenor up to ten years to fund part of the construction cost overruns of its complex in Jubail industrial city which was declared in the capital market on 25/7/2010. It is worth mentioning that this loan is guaranteed by SABIC, the main shareholder of the company.

The agreement was signed by Mr. Mutlaq Al-Morished, Saudi Kayans chairman and Mr. Saad Ur-Rehman, Banque Saudi Fransi group general manager, head of structured finance division.

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Related Categories: Acquisitions and Divestitures  Economics/Financial Analysis  General  Investment  Risk Management 

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