NEOM Secures $3 Billion Financing for Development
This follows a SAR 23 billion ($6.13 billion) agreement for NEOM Green Hydrogen Company and SAR 3 billion ($800 million) debt financing for Sindalah Island.
Saudi Arabian NEOM announced that it has obtained SAR 10 billion ($2.67 billion) in revolving credit facility (RCF), structured under Murabaha, as development power ahead.[1].
The transaction witnessed participation from nine Saudi banks, with Saudi National Bank, Riyad Bank, and Saudi Awwal Bank serving as lead arrangers.
This follows a SAR 23 billion ($6.13 billion) agreement for NEOM Green Hydrogen Company and SAR 3 billion ($800 million) debt financing for Sindalah Island.
يسرّنا الإعلان عن توقيع اتّفاقية تسهيلات ائتمانيّة بقيمة 10 مليارات ريال سعوديّ، شارك فيها 9 بنوك سعودية، ستستخدم لتلبية متطلّبات #نيوم للتمويل قصيرة الأجل، في وقت تشهد مشاريعها الرئيسيّة تقدّماً ملحوظاً وتسارعاً في أعمال التطوير.
— NEOM (@NEOM) April 28, 2024
للمزيد: https://t.co/9xh8TZzQwh pic.twitter.com/Iz8NI3L8Wf
NEOM, Saudi Arabia's hyper futuristic $500 billion mega project, founded by Crown Prince Mohammed bin Salman, is a planned smart city in Tabuk Province in northwestern Saudi Arabia. It contains numerous cities, resorts, and other developments.