Sahara Petrochemical Company’s subsidiary Al Waha Petrochemicals has announced that it has secured a $522mn from two local lenders to refinance an existing loan.
The new loan has more beneficial pricing and conditions than the existing deal and will allow Al Waha to restructure its downstream debt.
The loan was provided by Saudi British Bank and Banque Saudi Fransi and lasts until the end of 2026, Sahara said in the statement.
