Saudi Arabia-based Al Babtain Power and Telecommunications company will get a loan of 250 million Saudi Riyals through Murabaha mode from Al Rajhi Bank.
The duration of the banking facility is four years and 282 million riyals have been pledged as guarantees for the financing, Al Babtain said in a Tadawul listing.
The company said the loan will be used for re-structuring a part of short-term finances and transfer it to medium-term finance, which will reflect on increasing the necessary cash flow to finance the company needs.
In the 12 months preceding March 2021, the company had paid 28 percent of its profits as dividends.
Al Babtain to procure SAR 250m loan
- The duration of the banking facility is four years and 282 million riyals have been pledged as guarantees for the financing.
- The company said the loan will be used for re-structuring a part of short-term finances.
Today's Headlines
The most important news stories of the day, curated by Post editors and delivered every morning.
By signing up you agree to our Terms of Use and Privacy Policy
ABU DHABI, Â UAE – The Environment Agency – Abu Dhabi (EAD) has issued a policy on sustaining marine water quality that reviews the current situation and main challenges related to…
GCC-listed companies' net profit dropped to US$ 57.9 billion in Q2-2023. While retail, capital goods, and utilities sectors faced profit declines, the banking sector thrived.
Rising security concerns, confrontational geopolitics, and chaotic global changes have fueled the demand for private military companies, the new reality of modern warfare.
WTTC research shows that, having endured estimated losses of $4.5 trillion and 62 million jobs in 2020 alone, travel and tourism has recovered and is set to reach new heights.…
In recent years, wellness travel has evolved from a niche pursuit to one of the most dynamic sectors in global tourism. What began as an occasional escape from stress has…
