Jan 28 2012 |
more articles from
|
Saudi Zain Secures 6-Month Extension Of SAR9.75B Murabaha
Saturday, Jan 28, 2012
BEIRUT (Zawya Dow Jones)--Mobile Telecommunications Co. Saudi Arabia (7030.SA), or Zain KSA , Saturday said it has received investor approval of a 9.75 billion Saudi riyals ($2.6 billion) syndicated murabaha financing to extend the murabaha's maturity for an additional six months.
"The facility will now mature on July 27, 2012. The company has exercised an option, within the terms of the facility agreement, allowing it to extend the term of the loan, provided no prior events of default had occurred, and subject to the prior written consent of all investors," Zain KSA said in a statement posted on the Saudi bourse website.
The move will boost Zain KSA 's liquidity position which will enable it to meet its financial and operational obligations in the near future, the mobile phone and internet services provider said in the statement.
Shares in Zain KSA trade +2.4% at SAR6.30 Saturday in an overall positive market.
Copyright (c) 2012 Dow Jones & Co.
(END) Dow Jones Newswires
28-01-12 0903GMT
Zawya Comment Policy
-
Zawya encourages you to add a comment to this discussion. You agree that when you add content to this discussion your comments will not:
1.1 Contain any material which is libelous or defamatory of any person, is obscene, offensive, hateful or inflammatory or causes damage to the reputation of any person or organisation.
1.2 Promote sexually explicit material, violence, discrimination based on race, sex, religion, nationality, disability, sexual orientation or age or any illegal activity.
1.3 Be made in breach of any legal duty owed to a third party, such as a contractual duty or a duty of confidence.
1.4 Be threatening, abuse or invade another's privacy, or cause annoyance, inconvenience or needless anxiety.
1.5 Be used to impersonate any person, to misrepresent your identity or affiliation with any person, or be likely to deceive any person.
1.6 Give the impression that they represent Zawya.
1.7 Advocate, promote or assist any unlawful act such as (by way of example only) copyright infringement or computer misuse. - The content posted on www.zawya.com is created by members of the public. The views expressed are theirs and unless specifically stated are not those of Zawya. Zawya reserves the right to review all comments prior to posting and edit or delete any contribution, but Zawya is not responsible for and can not be held liable for any content posted by members of the public on www.zawya.com.
- Zawya is not responsible for the availability or content of any third party sites that are accessible through www.zawya.com. Any links to third party websites from www.zawya.com do not amount to any endorsement of that site by Zawya and any use of that site by you is at your own risk.
- By submitting your comment, you hereby give Zawya the right, but not the obligation, to post, air, edit, exhibit, telecast, webcast, re-use, publish, reproduce, use, license, print, distribute or otherwise use your comments worldwide, in perpetuity.
Copyright © 2012 Zawya Ltd. All rights reserved. |
provided by www.zawya.com |
Post Your Comment