Tasnee obtains Murabaha Facility Agreement for refinancing Sukuk

Tasnee has signed a Murabaha Facility Agreement with Banque Saudi Fransi on January 1, 2019, for the purpose of refinancing its Sukuk maturing on 21/5/2019. The credit facility value is 2 billion Saudi Arabian Riyals and it is repayable in one installment on the final maturity date at the end of the financing period of 7 years. The agreement includes a number of conditions precedent for drawing down the facility. Any material development will be announced as they occur.