Saudi Kayan Petrochemical has signed Islamic Murabaha facilities with the National Commercial Bank at US$1.35 bln, as reported by menafn.com. Additionally, the loans are guaranteed by the Saudi Basic Industries Corp (SABIC), a majority stake in Saudi Kayan.
The five-year deal inked involves a US$1.2 bln facility that will be used to repay an NCB-existing loan that was used to finance Saudi Kayan's projects.
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