Riyadh – Mubasher: Etihad Etisalat (Mobily) has signed a SAR 7.9 billion Murabaha facility with National Commercial Bank, Banque Saudi Fransi, Samba Financial Group, Saudi British Bank, Riyad Bank and Al-Rajhi Bank, according to a bourse statement.
The facility aims to allow the telecom operator to “re-profile its debt in a manner more consistent with its cash flow generation”, as well as to “release any refinancing risk over the medium and long term”.
The 7-year facility has a 2-year grace and 5- period repayment periods, the company said, adding that the loan is unsecured and ranks pari-passu with all other existing facilities.
