Saudi Kayan pays SR2.4 bln as last installment of senior loans

Saudi Kayan Petrochemical Company announced on Tuesday the payment of the last installment of the senior loans in the amount of USD644 million, equivalent to SR2,4 billion on 28-11-2022. Thus, the company’s senior financing loans have been fully settled, which Saudi Kayan entered on 31 May 2008 with a group of banks and financial institutions in the amount of USD6 billion, which is equivalent to SR22,5 billion for 15 years ahead of the agreed scheduled payment plan to finance part of the expenses of building its (Saudi Kayan) complex in Jubail Industrial City.
The complex is one of the world’s largest integrated petrochemical complexes. The payment has been settled ahead of the scheduled plan.
It is expected that the positive financial impact on the company will be a decrease in financial costs by approximately SR54 million.