
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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