Al-Babtain seals SAR 200 mln Tawarruq facility deal with Banque Saudi Fransi

19/12/2022 Argaam
Logo ofAl-Babtain Power and Telecommunication Co.

Logo of Al-Babtain Power and Telecommunication Co. 

Al-Babtain Power and Telecommunication Co. inked today, Dec. 19, a SAR 200 million worth of a long-term Tawarruq facility agreement with Banque Saudi Fransi (BSF), according to a statement to Tadawul.

 

The facility tenure will extend for five years. It will be guaranteed by promissory notes, in addition to a waiver of project revenue.

 

It will go for rescheduling some short-term loans and converting them into long-term debt. Accordingly, this will increase the liquidity required to finance the company’s future needs.

 

The deal included no related parties, the statement added.

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