Saudi Energy secures 15.8B SAR credit

The Saudi Energy Company announced the signing of a Murabaha credit facilities agreement valued at 15.8 billion SAR with a consortium of seven local banks, aimed at supporting its operations and strengthening its expansion and financial strategy. The financing duration is seven years without providing guarantees, reflecting the company's strong credit rating. The funds will be used for general purposes and to achieve growth and sustainability goals. The agreement involved substantial participation from major Saudi banks such as the National Commercial Bank, Al Rajhi Bank, and the First Saudi Bank, highlighting confidence in the company's ability to manage its financial flows efficiently.

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