IssuerAnnouncementDetailsV2Portlet
The Power and Water Utility Company for Jubail and Yanbu Announces Rescheduling Rescheduling Existing Islamic Loans offered by Banque Saudi Fransi, Saudi Awwal Bank and Saudi National Bank
Element List | Explanation |
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Introduction | Power and Water Utility Company for Jubail and Yanbu (Marafiq) has signed bilateral agreements to reschedule its existing Islamic loans with Saudi bank lenders: Banque Saudi Fransi, Saudi Awwal Bank, and Saudi National Bank. The total loans amount is 5.9 Billion Saudi Riyals. The agreements include extending the previously agreed payment grace period by an additional three years with repayment commencing on June 2028 instead of June 2025, while maintaining the original financing period which concludes on December 2034. These rescheduling agreements aim to support the Company's financial position and improve cash flows, thereby contributing to the achievement of the Company's strategic objectives. |
Date of singing the rescheduling of finance | 2024-11-24 Corresponding to 1446-05-22 |
Financing entity | Banque Saudi Fransi, Saudi Awwal Bank and Saudi National Bank |
Reasons for rescheduling | Support the Company's financial position and improve cash flows, thereby contributing to the achievement of the company's strategic objectives. |
The Financing amount and rescheduled part | Saudi Riyals 5.9 billion |
Financing Duration, before and after Rescheduling | There is no change to the previously agreed term which ends in December 2034. |
Guarantees offered for the rescheduled Financing | There have been no modifications in the previous guarantees (Promissory Note). |
Related Parties | N/A |
Additional Information | N/A |
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.