Zain Saudi restructuring finally crosses finish line

Saudi Arabian telecoms firm Zain Saudi has restructured Sr8.63bn ($2.3bn) of Shariah-compliant debt after almost 18 months of negotiations and repayment extensions.

  • By Michael Turner
  • 30 Jul 2013

Zain now has until July 31 2018, to repay the new murabaha facility, after extending the deadline on the old loan nine times since February 2012.

The new loan is amortising, with 25% due to be repaid in 2017 and ...

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