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Sipchem's unit signs SAR 1bn Islamic facility agreement

Sipchem's unit signs SAR 1bn Islamic facility agreement
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SIPCHEM
2310
-5.45% 18.22 -1.05
BSF
1050
-2.00% 17.63 -0.36

Riyadh – Mubasher: Al Waha Petrochemical Company, an affiliate of Sahara International Petrochemical Company (Sipchem), has inked a SAR 1.001 billion Islamic facility agreement with Banque Saudi Fransi.

The agreement aims to refinance the company's existing syndicated bank facility with a maturity date in 2026, according to a bourse filing on Monday.

The new financing's maturity date was scheduled for 2027.