Jun 03 2012
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Maaden gets SR 7 bn Murabaha loan
The deal, which was secured by 11 banks, was oversubscribed 2.5 times which demonstrated the banks trust in Maaden 's credit worthiness, the report said.
The subscribing banks are: National Commercial Bank, Samba Financial Group, Riyad Bank, Banque Saudi Fransi, Saudi British Bank (SABB), Al Rajhi Bank, Bank Al Jazeera, J.P. Morgan, Arab National
Bank, Bank Al Bilad, Saudi Investment Bank.
It is to be recalled that Maaden has recently signed a contract worth SR 5.6 billion with Hyundai Engineering & Construction Co Ltd to build its alumina refinery at Ras Al-Khair, Eastern Province.
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