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First Milling Co. Announces Obtaining a Banking Shariah Compliant Facilities
| Element List | Explanation |
|---|---|
| Introduction | First Mills Company announces the signing of a long-term sharia-compliant bank facility agreement with the Saudi Awwal Bank (SAB) amounting to SAR 630,000,000 with multiple uses to support the Company’s commercial and operation activities contributing to its future expansion and growth. |
| Date of obtaining the funding | 2025-04-20 Corresponding to 1446-10-22 |
| Financing entity | The Saudi Awwal Bank (SAB) |
| Financing amount. | 630,000,000 SAR |
| Financing duration. | Available until 31/12/2035G. |
| Guarantees offered for the financing | Loan guarantee under promissory notes of the facility amounts |
| Financing objective | To support the Company's growth and expansion while aligning with its strategy to optimize financing costs, enhance profitability, and drive sustainable long-term returns for shareholders, as these facilities include financing debt repayments, financing working capital requirements, bank guarantee facilities, and letters of credit (when needed). |
| Related Parties | There are no related parties. |
| Additional Information | The Board's approval of the funding was received on March 23, 2025, with all necessary legal procedures completed and signatures received as a final version on the 20th of April 2025. Any major development related to the financing facility will be announced as per the related regulations and instructions. For any inquiries, please contact the First Mills Investors Relations Department at the email: IR@firstmills.com |
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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