Mobily has signed a SR7.9 billion ($2.11 billion) Mubaraha facility agreement with a group of Saudi banks to refinance a significant part of its current debt
The agreement has been signed with National Commercial Bank, Banque Saudi Fransi, Samba Financial Group, Saudi British Bank, Riyad Bank and Al-Rajhi Bank. The unsecured seven-year loan has a two-year grace period and will be repaid in five years.
This facility will allow Mobily to re-profile its debt in a manner more consistent with its cash flow generation.
It reflects the increased confidence of the creditors in Mobily, its strong creditworthiness, and its future prospects.
The agreement has been signed with National Commercial Bank, Banque Saudi Fransi, Samba Financial Group, Saudi British Bank, Riyad Bank and Al-Rajhi Bank. The unsecured seven-year loan has a two-year grace period and will be repaid in five years.
This facility will allow Mobily to re-profile its debt in a manner more consistent with its cash flow generation.
It reflects the increased confidence of the creditors in Mobily, its strong creditworthiness, and its future prospects.
