Tuesday 18 December 2012

Ma'aden signs landmark SAR9 billion Shariah compliant syndicated revolving credit facility - bi-me.com

Saudi Arabian Mining Company (“Ma'aden”), Saudi Arabia’s leading mining company, signed a landmark SAR 9 billion Syndicated Revolving Facility today in Riyadh.

This is the largest SAR-denominated revolving credit facility, the largest single-tranche syndicated corporate loan financing, and the second-largest syndicated SAR corporate loan financing ever concluded in Saudi Arabia.

The company was originally exploring a facility size of up to SAR 7 billion, but following an overwhelming response by the bank market, the management decided to upsize the facility to SAR 9 billion to accommodate the demand from the banks and also to further increase Ma'aden's financing flexibility.

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