Riyadh – Mubasher: Saudi Arabia-based National Industrialization Co (Tasnee) on Wednesday announced the signing of a SAR 2 billion murabaha loan agreement with Banque Saudi Fransi (BSF) to refinance its sukuk maturing in May 2019.
The seven-year facility, obtained through promissory notes, will be repaid in one installment at the end of its maturity date, according to a statement to the Saudi Stock Exchange (Tadawul).
Tasnee’s profits amounted to SAR 259.4 million during Q3-18, up from SAR 191.6 million in Q3-17, according to a bourse statement.
During the first nine months of 2018, Tasnee’s profits after calculating Zakat and Tax soared 161.7% to SAR 1.016 billion, compared to SAR 388.4 million in the prior-year period.
