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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
-5.50% 18.21 -1.06
BSF
1050
-5.23% 17.05 -0.94

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.