Riyadh – Mubasher: The National Titanium Dioxide Company Limited (Cristal), a subsidiary of National Industrialization Co (Tasnee) has signed Murabaha agreements with the company’s existing lenders for SAR 6.95 billion.
The purpose of the facilities is to promote Cristal’s liabilities with viable capital structure and will provide a solid foundation for future growth and sustainability, according to a bourse statement issued Sunday.
“The Syndicated Murabaha and Bai Ajel Agreements have a bullet repayment at the end of the third year with an option for Cristal to extend for an additional two years if certain conditions are met and carry rates that are competitive with rates currently prevalent in the Kingdom,” the statement added.
