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.
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
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.