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Al-Tasneea adjusts 2bn Riyal Murabaha with Banque Saudi Fransi
The National Industrial Company announced the rescheduling of a Murabaha loan valued at 2 billion Saudi riyals with the Saudi French Bank. The financing term, which was previously 7 years before the rescheduling, has been extended to 7 years after the rescheduling. The guarantees provided for the financing consist of promissory notes. These arrangements are made under usual commercial terms and without any preferential conditions, with compliance to relevant regulatory requirements. This step aims to improve the company's cash flow management without affecting its financial relationships, while keeping the financing conditions and guarantees unchanged.
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