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.    




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