Tabuk Cement [3090.SE] has secured two Shariah-compliant debt facility agreements with Bank Albilad to reschedule old debt and obtain a new facility. The first debt agreement is worth SAR478.65mn and will be used to pay old dues to the bank: the first, worth SAR390mn (for the second production line), will be paid over 20 quarterly installments starting 22 June 2016 and ends on 22 March 2020, and the second, worth SAR87mn, will be paid over 16 installments; the debt has a maturity of seven years and a grace period of one year. The other debt facility, worth SAR21mn, has a maturity of three years. 

Tabuk Cement: SAR12.50 as of 29 Mar. 2017, Rating: Sell, TP: SAR11.30/share, MCap: USD300mn, TACCO AB/3090.SE