Saudi Maaden receives USD199.85m financing

04 Apr 2015

(MENAFN) Maaden Barrick Copper Company has concluded an agreement with the Saudi British Bank (SABB) to finance its copper project in Jabal Sayid for the amount of USD199.85 million, Arab News reported.

This financing confirms Maaden’s continued ability to obtain competitive financing terms from the market to meet its ongoing financial need, Maaden SVP for Finance and CFO said.

The new murabaha financing facility would be important in providing the remaining funding required for completing the Jabal Sayid project and in adding copper to Maaden’s existing portfolio of products.

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