Bloomberg/Simon Dawson
by Kudakwashe MuzoriwaSaudi Arabia’s Etihad Etisalat Company (Mobily) has signed a SAR 7.6 billion Murabahah facility with a consortium of local banks to replace the existing syndicate financing and to reduce the cost of financing with better financing terms and conditions.
Mobily stated that the refinancing agreement will significantly reduce the cost of debt for the company over the coming few years and it is part of the company’s management continues efforts to improve liquidity and improve terms and conditions.
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CPI Financial was established in Dubai in 1999 to meet the needs of an ever-expanding financial community, offering a comprehensive portfolio of market-leading products and services tailor-made for the banking and financial services sectors.
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