Saudi Kayan secures SAR1.5mn Shariah-compliant murabaha
Saudi Kayan secured an SAR1.5mn Shariah-compliant murabaha from Banque Saudi Fransi. The financing period is eight years and aims to replace the remaining outstanding secondary loans with new facilities of lower cost and better terms. The company highlighted that the new loan is expected to reflect positively on the financial statements by reducing finance cost by cSAR25mn in 2020 and the following years.
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