{"id":95381,"date":"2025-03-18T00:00:00","date_gmt":"2025-03-18T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/18\/saudi-kayan-secures-murabaha-facilities-to-refinance-sar-8-1-bn-in-outstanding-debt\/"},"modified":"2025-03-18T00:00:00","modified_gmt":"2025-03-18T00:00:00","slug":"saudi-kayan-secures-murabaha-facilities-to-refinance-sar-8-1-bn-in-outstanding-debt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/03\/18\/saudi-kayan-secures-murabaha-facilities-to-refinance-sar-8-1-bn-in-outstanding-debt\/","title":{"rendered":"Saudi Kayan secures murabaha facilities to refinance SAR 8.1 bn in outstanding debt"},"content":{"rendered":"

<\/strong>Tadawul-list<\/strong>ed<\/strong> Saudi Kayan Petrochemical<\/a><\/strong> lined up SAR 8.1 bn in new murabaha <\/strong>facilities to refinance its total outstanding debt<\/strong>, extending maturities to 2034 from an initial payment deadline of 2027, the Sabic subsidiary said in a filing<\/a> to the exchange. Procedures to settle and replace the firm's loans will be finalized today, with the financial impact of the refinancing scheme expected to appear in the company\u2019s 1Q earnings.<\/p>\n

IN CONTEXT- <\/strong>The Sabic unit has reduced its total outstanding debt to SAR 8.1 bn as of December of last year \u2014 through a mix of refinancing, extension of earlier loans, and early repayments \u2014 bringing it down from SAR 34.4 bn during the construction phase of its facilities, the disclosure read. <\/p>\n

SOUND SMART-<\/strong> A murabaha facility is a shariah-compliant loan alternative in which a bank purchases assets on behalf of a client and sells it back at a pre-agreed earning margin, with payments made in installments. Unlike conventional loans, murabaha avoids charging interest and instead structures the transaction as a cost-plus sale, in line with Islamic finance principles. <\/p>\n

ADVISORS-<\/strong> Saudi National Bank (SNB), Banque Saudi Fransi, and Alinma Bank acted as lead managers for the facility.<\/p>\n

ICYMI- <\/strong>The Jubail-based chemicals producer narrowed its net loss<\/a> to SAR 1.8 bn last year, down from SAR 2.1 bn in 2023, benefiting from higher average selling prices. Revenue increased 6.8% y-o-y at SAR 8.7 bn over the same period.<\/p>\n

IN OTHER DEBT NEWS- <\/p>\n

Nomu-listed Shalfa Facilities Management lined up one-year SAR 75 mn credit facilities <\/strong>from the Saudi Investment Bank<\/strong>, to back project guarantees, site preparation, and working capital needs, it said in a filing<\/a> to the exchange.<\/p>\n","protected":false},"excerpt":{"rendered":"

PLUS: Shalfa lined up SAR 75 mn credit facilities from Saudi Investment Bank<\/p>\n","protected":false},"author":1,"featured_media":95382,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2590],"tags":[57,10,3240,138,2956],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-95381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-debt-watch","tag-enterpriseam-ksa","tag-murabaha","tag-sabic","tag-saudi-kayan-petrochemical","wpautop","entry"],"acf":{"mongo_id":"a76d0e9f-5ce8-4ba4-a6a0-13ab568c7e1f","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/7\/2400.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi Kayan secures murabaha facilities to refinance SAR 8.1 bn in outstanding debt","related_issue":[95374],"teaser":"PLUS: Shalfa lined up SAR 75 mn credit facilities from Saudi Investment Bank","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/3\/.e1cd57db-2ef4-4c84-9f21-7bab8d6e6f2c.mp3"},"yoast_head":"\nSaudi Kayan secures murabaha facilities to refinance SAR 8.1 bn in outstanding debt - 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