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.
