Riyadh – Mubasher: Etihad Etisalat Co. (Mobily) announced that the lately-signed credit facility deal with Alinma Bank has the same arrangements of the Pari passu one.
Mobily noted that it has never delayed any payments for its debts since established, according to a bourse filing on Wednesday.
The company pinpointed that all its current facilities with the other banks, including Alinma Bank, do not include any security, but is Shariah Compliant and in line with best financing practices for similar facilities.
The telecommunication company signed on Monday an unsecured SAR 2 billion bilateral credit facility agreement with Alinma Bank.
The deal is in the form of "Bai Ajel," with a 10-year maturity period. The proceeds of this facility will be used to fund existing and future operating and capital expenditures of the company.
