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 |
|---|---|
| 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 |
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