Fawaz Al Hokair reportedly in talks for USD2.13bn loan
Fawaz Al Hokair [4240.SE] is reportedly in talks with banks for a USD2.13bn (cSAR8bn) loan, according to unnamed sources as cited by Reuters. Discussions on the loan, which started before the anti-corruption campaign, are now about to be completed, with the loan to be used to refinance existing debt. The loan is expected to be provided by a group of local banks, including Al-Rajhi Bank and Samba Financial Group, the sources said.
Al Hokair: SAR27.96 as of 21 Mar. 2018, Rating: Neutral, TP: SAR33.00/share, MCap: USD1,566mn, ALHOKAIR AB/4240.SE
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