Zain KSA Agrees $600m Murabaha Facility

Zain KSA has signed a SAR 2.25 billion Murabaha facility with a consortium of local and regional banks to refinance its existing $600 million facility with Commercial and Industrial Bank China.
Zain KSA disclosed that the facility was oversubscribed and is fully secured by a corporate guarantee from Mobile Telecommunications Company KSCP (Zain Group).
Prince Naif bin Sultan bin Mohammed, chairman of Zain KSA, said: “The closing of the Murabah Facility, which saw the transaction being oversubscribed, reflects the confidence of the financial institutions in the successful digital transformation strategy being executed by Zain KSA.”
Banque Saudi Fransi (BSF) acted as the documentation bank of the facility. Al Rajhi Banking and Investment Corporation, Arab National Bank, BSF, First Abu Dhabi Bank PJSC (Saudi Branch), and SAMBA Financial Group were the bookrunners and mandated lead arrangers for the facility. BSF was also appointed the investment agent on the transaction.
Zain KSA raised its Q1 net profit to around SAR 129 million, compared to SAR 77 million for the same period of 2018, while total revenues rose to SAR 2.1 billion in the first quarter, a growth of 24 percent over the same period of 2018.
During the period, Zain KSA maintained Earnings Before Interest, Tax, Depreciation and Amortization (EBITDA) of SAR 955 million in the first quarter, up 67 percent compared to SAR 571 million in the first quarter of 2018, reflecting an EBITDA margin of 46 percent.CIBC).
For all the latest banking and finance news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.Subscribe to Arabian Business' newsletter to receive the latest breaking news and business stories in Dubai,the UAE and the GCC straight to your inbox.
UAE Announces Major New Tax Rules
UAE introduces Cabinet Decision to amend tax rules and attract investment Read more
UAEs Maseera Acquires Egyptian Fintech ADVA
The move marks a critical milestone in Maseera’s regional expansion strategy Read more
Oman Mandates IBAN For Domestic Transfers From July 2025
The move follows the Oman Central Bank's implementation of the IBAN system for international transfers from March 31, 2... Read more
Egypt And Jordan Thank The European Parliament For New Financial Aid
The European Union members recently approved loans worth $4.4 billion in three instalments to Egypt and $555 million to... Read more
Standard Chartereds SC Ventures To Replicate Asia, Africa SME Model In GCC
SC Ventures to bring its successful SME building strategy in India, South East Asia and Africa to GCC, and plans to rol... Read more
UAE Central Bank Revokes Licence Of Dynamics Insurance Brokers For Regulatory Breaches
Dynamics Insurance Brokers "failed to comply with the licensing terms and requirements issued by the Central Bank and w... Read more