Saudi Kayan Announces Prepayment of SR1.875 bln as Part of the Senior Loans

Saudi Kayan Petrochemical Company announces the prepayment of 1.875 billion Saudi Riyals as part of the company senior loans. Accordingly, the total remaining loans as of December 31, 2021 is 13 Billion Saudi Riyals.

This comes in pursuit to achieve financial excellence, reduce financial cost and best utilize the available cash as part of the company’s strategic goals, the company said.

The positive financial impact of this prepayment is reduction of approximately 60 Million Riyals in the financial cost.