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Fawaz Abdulaziz Alhokair Co. (Cenomi Retail) Announces executing a SAR 1,600,000,000 credit facility agreement with Emirates NBD – Kingdom of Saudi Arabia
| Element List | Explanation |
|---|---|
| Introduction | Fawaz Abdulaziz Alhokair Co. (Cenomi Retail) (the “Company”) announces that it has entered into a new banking facility agreement with Emirates NBD Bank – Kingdom of Saudi Arabia for a total amount of SAR 1,600,000,000 (the “Credit Facility Agreement”). The facility is structured as a short-term loan (the “Short-Term Loan”) which is envisaged to be refinanced by a term-loan (the “Term-Loan”) with Emirates NBD – Kingdom of Saudi Arabia within a period of 90 days (from the date of obtaining the Short-Term Loan), subject to the execution of the Term-Loan relevant agreements. |
| Date of obtaining the funding | 2025-09-14 Corresponding to 1447-03-22 |
| Financing entity | Emirates NBD Bank – Kingdom of Saudi Arabia. |
| Financing amount. | SAR 1,600,000,000 (one billion six hundred million Saudi Arabian Riyals). |
| Financing duration. | Short-Term Loan: 90 days. Term-loan: 3 years with an option to extend for a total of 2 years (at bank’s discretion), which will be utilised for the repayment of the Short-Term Loan, subject to executing the Term-Loan relevant agreements. |
| Guarantees offered for the financing | Promissory Note to be provided by the Company for SAR 1,600,000,000. Corporate Guarantee by Al Futtaim Private Company LLC for an amount of SAR 1,600,000,000, which will be provided in exchange for an agreed fee to be paid by the Company. |
| Financing objective | Prepayment/settlement of outstanding bank debts. |
| Related Parties | Al Futtaim Private Company LLC, which will be considered a related party as it is an affiliate of Al Futtaim Retail Company which will become a shareholder in the Company following completion of the private transaction (as referred to below). |
| Additional Information | Worth noting that the utilisation of the loan is subject to the completion of the private transaction, as referenced in the Company's announcement published on the Saudi Stock Exchange (Tadawul) dated 25/01/1447H (corresponding to 20/07/2025G), entered into by a number of the Company's substantial shareholders and Al-Futtaim Retail Company. The applicable management and administration fees in connection with the loan, which is to be procured pursuant to the Credit Facility Agreement, are to be paid by the Company. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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