Saudi Kayan signs USD2bn Murabaha facility with NBC
Saudi Kayan Petrochemical Company (Saudi Kayan) has signed a Murabaha financing facility with National Commercial Bank (NCB) with a total value of USD2bn (SAR7.5bn). The seven-year facility, which was guaranteed by a promissory note, includes a grace period of three years, according to the firm’s statement to Tadawul. The deal comes along with Saudi Kayan’s plans to adopt new debt-reducing measures. It also aims to repay and restructure its remaining secondary debts at better terms.
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