IFLR1000

Ma’aden Phosphate Company SR11.4 billion murabaha refinancing

25/2/2016
Financing, Murabaha, Refinancing
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SR 11.4 billion

$ 3.039 billion

Completed

25/2/2016

Overview:

  • Ma’aden Phosphate Company has taken out a new two tranche murabaha (deferred sale) facility
  • The facility consisted of SR8.30625 billion and $850 million tranches.
  • The funds will be used to refinance existing project finance debt and for general corporate purposes.
  • The lenders included Al Rajhi Banking and Investment Corporation, The National Commercial Bank, Riyad Bank, Banque Saudi Fransi, The Saudi Investment Bank, Saudi British Bank, The Bank of Tokyo-Mitsubishi UFJ, Export Development Canada, Bank Aljazirah, Samba Financial Group, Sumitomo Mitsui Banking Corporation Europe, BNP Paribas and Natixis.

Sam Duke - Editor

Jurisdictions:

Saudi Arabia
United Arab Emirates

Deal types:

Financing
Murabaha
Refinancing

Practice areas:

Banking
Islamic finance

Industry sector:

Industrials and manufacturing

Firms:
Allen & Overy

Party: Ma’aden Phosphate Company (Borrower)

Lawyer: Ian Ingram-Johnson

Latham & Watkins

Party: The National Commercial Bank (Lender)

Party: Banque Saudi Fransi (Lender)

Party: Saudi British Bank (Lender)

Party: The Bank of Tokyo-Mitsubishi UFJ (Lender)

Party: Export Development Canada (Lender)

Party: Samba Financial Group (Lender)

Party: Sumitomo Mitsui Banking Corporation (Lender)

Party: BNP Paribas (Lender)

Party: Natixis (Lender)

Party: Al Rajhi Banking and Investment Corporation (Lender)

Party: Riyad Bank (Lender)

Party: The Saudi Investment Bank (Lender)

Party: Bank Aljazirah (Lender)

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