Saudi Advanced Petrochemicals secures $427mln Islamic facility from SNB

Saudi Arabia's Advanced Petrochemicals Co. said on Thursday it secured a shariah-compliant Islamic credit facility of 1.6 billion Saudi riyals ($427 million) from Saudi National Bank (SNB).

In a regulatory filing on Riyadh's Tadawul bourse, the petrochemicals maker said the five-year facility, which will be used for general corporate purposes, was priced competitively, but didn't disclose any detail.    

 

Source: https://www.zawya.com/en/islamic-economy/islamic-finance/saudi-advanced-petrochemicals-secures-427mln-islamic-facility-from-snb-ftxbgt8j

 

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