Saudi’s Fawaz Abudulaziz Alhokair secures $800mln Islamic finance – ZAWYA
- Date: 03-Mar-2020
- Source: Zawya
- Sector:Financial Markets
- Country:Saudi Arabia
Saudi’s Fawaz Abudulaziz Alhokair secures $800mln Islamic finance – ZAWYA
The new facility is composed of two tranches, including a $650mln Murabaha and a $150mln revolving standby credit facility. Saudi-listed retail group, Fawaz Abdulaziz Alhokair Company, has signed an Islamic term Murabaha facility and a revolving credit facility agreement with a syndicate of Saudi banks.. The term Murabaha's maturity is 7 years (subject to a 1-year grace period), while the revolving credit facility's tenure is 3 years.. The banks participating in the loan agreement are: Al Rajhi Banking and Investment Corporation , the National Commercial Bank , Samba Financial Group , Arab National Bank , Mashreqbank , Abu Dhabi Islamic Bank ..