The Saudi Electricity Company announced on Wednesday that it had signed a joint local murabaha financing amounting to 9 billion riyals, for a period of 7 years.
The company said in a statement to the Saudi market (Tadawul) today, Thursday, that the financing bodies are: National Commercial Bank, Bank Al-Bilad, Al-Rajhi Bank, Riyad Bank, Samba Group Finance, Saudi Fransi Bank and Saudi British Bank.
The company clarified that the purpose of the murabaha financing is to finance the general objectives of the company, including capital expenditures.
and indicated that there are no guarantees offered against the referred funding.
The company's losses jumped by 373% in the first half of this year, to reach 3.31 billion riyals, compared to losses of 700 million riyals for the same period of 2019.
(Amazon Fun Knowledge)
