Alujain signs SAR 1 bln Murabaha facility with Alinma Bank

17/08/2021 Argaam

Alujain Holding's manufacturing facility

Alujain Holding Corp. inked an agreement with Alinma Bank to secure SAR 1 billion in a Sharia-compliant Murabaha facility, according to a bourse filing.

 

The facility tenor will extend for eight years and will be guaranteed by mortgage of shares owned by Alujain Holding Corp.

 

The facility will be used in financing the purchase of additional shares in National Petrochemical Industrial Company (NATPET).

 

The agreement included no related parties, the statement added.

 

NATPET is 57.4% owned by Alujain, Argaam reported.

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