Zain Saudi refinances debt with ICBC

Skip to:
Article

Mobile operator Zain Saudi Arabia has refinanced a SAR2.25 billion ($600 million) two-year local currency working capital facility just two months after closing the original deal with Arab National Bank, Banque Saudi Fransi, Gulf International Bank and Samba.

The new $600 million two-year deal is dollar denominated and comes with a one-year extension option. Industrial and Commercial Bank of China (ICBC) is sole debt provider and arranger. According to a statement from Zain Saudi, the borrower is saving $46.7 million on its cost of debt by going with ICBC.

Related analytics

Transaction Name Stage Est. Value
Afreximbank/$150 million/1117 Financial close 150.00
Gulf of Suez Onshore Wind Project/$320 million/1117 Financing 320.00
Emirates NBD/$40 million/1117 Financial close 40.00
Egyptian Electricity Holding Company/$650 million/1216 Financial close 650.00
Air Cote D’Ivoire/€98 million/1117 Financial close 98.00
No data available
More transactions

Trade Finance on Twitter