Gulf Oil and Gas accountACCOUNT

SEPC Signs a Murabaha Refinancing Facility Agreement

Source: www.gulfoilandgas.com 12/30/2012, Location: Middle East

SAHARA Petrochemicals Company announces that its affiliate, Saudi Ethylene & Polyethylene Company (SEPC), of which 24.41% is owned by SAHARA, has completed the signing of a long-term Murabaha Refinancing Facility Agreement in Saudi Riyal compatible with Islamic Shariah at a competitive rate with eight local banks in addition to one regional bank for a total amount of SAR 4.8 billion.

The purpose of the agreement is to refinance outstanding balance from the multicurrency credit facility obtained in 2006 from a number of local and international banks to finance the ethylene & polyethylene plant and to extend the period of repayment from 2018 to 2021, which will be in equal semi-annual installments. Promissory Notes were provided to effect payments due as per the agreements.

Investment News in Saudi Arabia >>

Mexico >>  2/13/2019 - BHP has approved US$696 million (BHP share) in funding to develop the Atlantis Phase 3 project in the US Gulf of Mexico. This follows sanction by BP, ...
Iraq >>  2/12/2019 - Iraq’s Basrah Gas Company will increase its capacity by 40 percent as part of an investment plan, Royal Dutch Shell said. ...

Oman >>  2/12/2019 - Under current market conditions and production assumptions, Tethys Oil expects its 2019 investments for the company’s existing operations on Blocks 3&...
Russia >>  2/12/2019 - SIBUR has decided to launch an investment project aimed at enhancing polybutadiene rubber (Nd-BR) production efficiency at its Voronezh facility (Voro...

Romania >>  2/7/2019 - Black Sea Oil & Gas SRL (BSOG) together with its co-venture partners, Petro Ventures Resources SRL (“Petro Ventures”) and Gas Plus International B.V. ...
Russia >>  2/4/2019 - PAO Severstal ("Severstal"; "the Company"), one of the world’s leading vertically integrated steel and steel-related mining companies, today announces...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Saudi Arabia Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 |

More News

Related Links

Gulf Oil and Gas
Copyright © Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.