Mobily has successfully signed an unsecured seven-year SAR7.9bn Murabaha facility with a syndicate of six banks to refinance a significant portion of its current debt. The facility has a two-year grace period and a five-year repayment period. “The facility will allow Mobily to re-profile its debt in a manner more consistent with its cash flow generation and release any refinancing risk over the medium and long term”, according to the statement on Tadawul. Participating banks include: National Commercial Bank, Banque Saudi Fransi, Samba Financial Group, Saudi British Bank, Riyad Bank and Al-Rajhi Bank (Company disclosure)   Mobily: SAR21.95 as of 31 Jan. 2017, Rating: Neutral, TP: SAR24.53/share, MCap: USD4,507mn, EEC AB/7020.SE