National Industrialization Company (Tasnee) [2060.SE] announced that its subsidiary National Titanium Dioxide Company (Cristal) had obtained a SAR6,995mn murabaha and working capital financing from its existing lenders. The murabaha facility has a bullet repayment at the end of the third year and Cristal has the option to extend two years additional if the company meets certain terms and conditions. The company added that the borrowing rate is competitive with the current market rates in Saudi Arabia. Tasnee noted that the facility would be used to refinance Cristal’s existing liabilities and would provide a solid capital structure to support the company’s future growth. (Tadawul)   National Industrialization Company (Tasnee): SAR12.49 as of 29 September 2016, Rating: Neutral, FV: SAR14.50 per share, MCap: USD2,228mn, NIC AB / 2060.SE