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Al Babtain Power & Telecommunication Co agrees four-year Islamic finance facility

June 16, 2014

Saudi-based Al Babtain Power & Telecommunication Co has signed an agreement with the Islamic Development Bank for a four-year SAR 300 million financing facility.

Al Babtain will pay the facility in monthly instalments. The funding replaces a clutch of short-term loans and will assist in improving the company's liquidity and cashflow from H2 2014 onwards.

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Source: CPI Financial

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