Basic Chemical Industries Co. Announces Obtaining a Credit Facility from Arab National Bank

Element ListExplanation
Introduction Basic Chemical Industries Company announces the signing of Credit Facility Amendment contract with Arab National Bank
Date of obtaining the funding 2022-10-03 Corresponding to 1444-03-07
Financing entity Arab National Bank
Financing amount. Previous credit facility limits SR 262M (Two Hundred Twenty-Six Million Saudi Riyal)

Amended credit facility limits SR 412M (Four Hundred and Twelve Million Saudi Riyal)

Financing duration. Previous tenor: 10 years and 1 month

Amended tenor: 12 years and 4 months

Guarantees offered for the financing Promissory Note
Financing objective Partial financing of the establishing cost of chlorine and its derivatives factory project in Jubail Industrial City to Support the cash flow.
Related Parties None
Additional Information Previous repayment plan, 20 equal installments start on 31/12/2022 and ends on 30/9/2027

Amended repayment plan, 28 non-equal installments start on 31/03/2023 and ends on 31/12/2029

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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Company Profile


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