Al Babtain obtains SR200 mln bank financing through long- ‎term Islamic Tawarruq Finance

Al Babtain Power and Telecommunication company announces signed a long – term Banking facilities agreement worth SR 200 million dated 19.12.2022 with Banque Saudi Fransi through Islamic Tawarruq Finance.

The financing objective is for re-structure a part of short-term finances and transfer it to long- term finance, which will reflect on increasing the necessary cash flow to finance the company needs adding that the financing period is five years, in exchange for a promissory note guarantee in addition to waiving some of the project revenues.