Sipchem Affiliate Signs SR 1 billion Facility Agreement with Banque Saudi Fransi

Sahara International Petrochemical Company (Sipchem) announces that its affiliate AL WAHA PETROCHEMICAL COMPANY has signed a SAR 1,001,640,000 Islamic Facility Agreement with Banque Saudi Fransi.

The new facility provides favorable terms and pricing which demonstrates the financial strength of Sipchem and its strong relationship with financial institutions.

Original amount: Syndicated facility SAR 1,964,000,000. Total outstanding amount to be refinanced: SAR 1,001,640,000. New facility amount: SAR 1,001,640,000

The maturity date of the existing syndicated bank facility is in 2026. The maturity date of the new financing is in 2027.