IssuerAnnouncementDetailsV2Portlet
Power and Water Utility Company in Jubail and Yanbu (Marafiq) announces its early repayment of part of the existing loans at a value of 500 million Saudi Riyals
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Announcement Detail | Based on the motivations of the Board of Directors of Power and Water Utility Company in Jubail and Yanbu (Marafiq) to improve the financial efficiency, reduce financing costs, and make optimal use of the cash available with the Company. Marafiq announces its early repayment of part of the outstanding loans amounting to SR 500 million on 11 Thul-Hijjah 1444, corresponding to June 29, 2023. The aforementioned repayment will contribute in reducing financing costs, which will be reflected positively on the Company's financial results at the second half of 2023. The Company emphasize its strengths financial position and confirms that its cash flow has enhanced its ability to gain benefits from the available opportunities to reduce the financing costs of loans, Moreover, the Company will continue adopting its fixed mythology towards its suppliers and to maintain future cash dividends for its valuable shareholders. |
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