Ma'aden completes refinancing of Wa'ad Al Shamal:SAUDI ARABIA

摘要

The Saudi Arabian Mining Company (Ma'aden) says that its subsidiary Ma'aden Wa'ad Al Shamal Phosphate Company (MWSPC) has signed new financing agreements for $2.3 billion with leading local and regional financial institutions.The proceeds from these agreements will be used to pay down existing loans.The new financing facilities replace the more restrictive project financing terms and conditions originally put in place,and are,says the company,"a step towards significantly strengthening the long term cash flow position for Ma'aden as part of its strategy to pursue new growth and development projects".