Rabigh Refining and Petrochemical Company (Petro Rabigh) announced yesterday, Wednesday, that it had signed three joint facilities and revolving loans worth 7.5 billion riyals.
The company explained in a statement to the Saudi Market (Tadawul), today, Thursday, the details of the agreements, which are as follows:
1- A facility agreement with the founding partner, Saudi Aramco, worth 1.875 billion riyals for a period of 36 months after December 2020.
2- A revolving loan agreement with the founding partner, Aramco in the amount of 2.812 billion riyals for a period of 36 months after December 2020.
3- A revolving loan agreement with the founding partner, Sumitomo Chemicals Ltd., valued at SAR 2.812 billion (the lender is Sumica Finance Ltd.) for a period of 36 months after December 2020. < / p>
and indicated that there are no guarantees presented against the financing, indicating that the purpose of the financing is to support the general objectives of the company and working capital.
and indicated that the founding partners are: Saudi Aramco and Sumitomo Chemicals Co. Ltd., related parties, indicating that in the event of any major update, they will announce it.
