Browse
related articles
Zain KSA plummets on extension of Murabaha facility for the umpteenth time
- Saudi Arabia: Tuesday, April 30 - 2013 at 17:22
The Saudi Arabian Tadawul All-Share Index advanced 0.18% to reach 7,179.8 points Tuesday. Shares of Mobile Telecommunications Company Saudi Arabia, better known as Zain KSA, ended down 4.90% at SR8.75. Earlier in the day, Zain KSA said the syndicated Murabaha (Islamic cost plus profit) facility of approximately SR9bn ($2.4bn) has been extended from April 30 to May 29 by the group of financiers, while the "junior debt" worth SR2.25bn ($600m) has been extended from May 1 to June 5 2013. Zain KSA added it currently prepares with the financiers "to finalize the arrangements of the new financing agreements that are intended to replace both facilities and intends to use the extension period to finalise such long-term financing arrangements." In addition, Zain KSA expected "hat the new Murabaha Facility will enjoy 5 years term in addition to lower interest rate."
Related Content
Article Options
Gérard Al-Fil, Financial JournalistTuesday, April 30 - 2013 at 17:22 UAE local time (GMT+4)
Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of AME Info FZ LLC / 4C.
Disclaimer »
The information comprised in this section is not, nor is it held out to be, a solicitation of any person to take any form of investment decision. The content of the AMEinfo.com Web site does not constitute advice or a recommendation by AME Info FZ LLC / 4C and should not be relied upon in making (or refraining from making) any decision relating to investments or any other matter. You should consult your own independent financial adviser and obtain professional advice before exercising any investment decisions or choices based on information featured in this AMEinfo.com Web site.
AME Info FZ LLC / 4C can not be held liable or responsible in any way for any opinions, suggestions, recommendations or comments made by any of the contributors to the various columns on the AMEinfo.com Web site nor do opinions of contributors necessarily reflect those of AME Info FZ LLC / 4C.
In no event shall AME Info FZ LLC / 4C be liable for any damages whatsoever, including, without limitation, direct, special, indirect, consequential, or incidental damages, or damages for lost profits, loss of revenue, or loss of use, arising out of or related to the AMEinfo.com Web site or the information contained in it, whether such damages arise in contract, negligence, tort, under statute, in equity, at law or otherwise.
