Jun 12 2011 |
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Saudi's Nama Chemicals Co. In SAR339M Financing Agreement
Sunday, Jun 12, 2011
DUBAI (Dow Jones)-- Nama Chemicals Co. (2210.SA) of Saudi Arabia said Sunday it had signed a 339 million Saudi riyals ($90.4 million), Sharia-compliant financing agreement with Bank Al Jazira (1020.SA).
The company said SAR263 million of the facility would be used to service an existing Murabaha loan, while SAR70 million would be used to establish an administrative building.
The Murabaha loan has a tenor of five years, it said in a statement posted on the website of the Saudi bourse.
-By Angus McDowall, Dow Jones Newswires; +971-4-446-1685, angus.mcdowall@dowjones.com
(END) Dow Jones Newswires
12-06-11 0737GMT
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