Riyadh – Mubasher: Rabigh Refining and Petrochemical Company (Petro Rabigh) has secured on Tuesday an alternative Sharia-compliant credit facility worth SAR 3.6 billion from the Saudi Industrial Development Fund (SIDF).
The 12-year loan has a grace period until May 2021 and is guaranteed by a promissory note of SAR 3.6 billion, according to a stock exchange disclosure.
Petro Rabigh said it will use the credit facility in refinancing existing company debts with better terms and conditions and repayment period, in addition to settling other loans.
