Zain KSA extends $2.3bn Murabaha loan
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Zain KSA extends $2.3bn Murabaha loan

Zain KSA extends $2.3bn Murabaha loan

Zain Saudi has said it has reached an agreement to extend the outstanding $2.3bn on an Islamic loan facility by five years, Reuters has reported. The loss-making telecoms operator, 37% owned by Kuwait's Zain, said it has converted the $2.4bn Islamic loan to an amortising facility and has repaid a portion of it from internal resources. The outstanding $2.3bn has been extended for five years, with 25% of the loan due in the last two years of the extended period and the remaining 75% on maturity at July 31, 2018.

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