Saudi Petro Rabigh pens revolving loans, facility agreements worth $2bln

Each of the three loans matures 36 months after December 2020

  
Image used for illustrative purpose. A Saudi money changer displays Saudi Riyal banknotes at a currency exchange shop in Riyadh, Saudi Arabia September 29, 2016.

Image used for illustrative purpose. A Saudi money changer displays Saudi Riyal banknotes at a currency exchange shop in Riyadh, Saudi Arabia September 29, 2016.

REUTERS/Faisal Al Nasser

Riyadh –   Rabigh Refining and Petrochemical Company (Petro Rabigh) has signed three joint revolving loans and facility agreements valued at SAR 7.5 billion for general corporate and working capital purposes.

A loan worth SAR 1.875 billion and a shareholder revolving loan agreement totalling SAR 2.812.5 billion were signed with Saudi Aramco, according to a bourse disclosure on Thursday.                   

Moreover, a shareholder revolving loan agreement with Sumitomo Chemical valued at SAR 2.812.5 billion was inked with Sumika Finance Co.

Each of the three loans matures 36 months after December 2020.

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© Mubasher 2020

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