Landmark US$ 2.5 Billion Murabaha financing facility to support Zain Saudi Arabia’s future growth

Zain Saudi Arabia (“Zain KSA”) today held the closing for a US$ 2.5 billion Murabaha financing facility. The funds will be used to repay its existing Murabaha, facilitating the mobile telecom operation’s ongoing network expansion and future growth. The term of the facility is two years with options of extending for a further twelve months. Al Rajhi Capital, Banque Saudi Fransi and Calyon acted as Financial Advisors, with a total of eight regional and international financial institutions participating in what is one of the largest Islamic financings this year.