Logo ofstc
stc Group’s subsidiary, Public Telecommunications Co. (Specialized by stc), signed, on Oct. 1, a Shariah-compliant Murabaha facility agreement for a total value of SAR 5.5 billion. 
The facility agreement comprises a participation of SAR 3.5 billion from Saudi National Bank (SNB) and SAR 2.0 billion from Arab National Bank (ANB).
In a statement to Tadawul, the company said that the financing duration is 12 years and the amount is covered by a stc-issued corporate guarantee.
The amount will be used to fund the capital and operating expenditures for building, operating, and providing telecommunications infrastructure services, the stating added, noting that SNB is a related party.
Logo ofstc
stc Group’s subsidiary, Public Telecommunications Co. (Specialized by stc), signed, on Oct. 1, a Shariah-compliant Murabaha facility agreement for a total value of SAR 5.5 billion.
The facility agreement comprises a participation of SAR 3.5 billion from Saudi National Bank (SNB) and SAR 2.0 billion from Arab National Bank (ANB).
In a statement to Tadawul, the company said that the financing duration is 12 years and the amount is covered by a stc-issued corporate guarantee.
The amount will be used to fund the capital and operating expenditures for building, operating, and providing telecommunications infrastructure services, the stating added, noting that SNB is a related party.
