Saudi's Maaden receives commitments for $1.87 bln loan
JEDDAH, Saudi Arabia, June 2 |
JEDDAH, Saudi Arabia, June 2 (Reuters) - Saudi Arabian Mining Company (MAADEN) has received bank commitments for its 7 billion riyal ($1.87 billion) Murabaha revolver loan with a tenure of five years, the firm said in a statement to the bourse on Saturday.
"The deal was oversubscribed 2.5 times," it said.
The subscribing banks are National Commercial Bank, Samba Financial Group, Riyad Bank, Banque Saudi Fransi, Saudi British Bank (SABB), Al Rajhi Bank, Bank Al Jazeera, J.P. Morgan, Arab National Bank, Bank Al Bilad, and Saudi Investment Bank. (Reporting by Asma Alsharif)
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