Saudi Arabian Mining Company ("Ma'aden") signs a ground-breaking SAR 9 billion Shariah Compliant Syndicated Revolving Credit Facility

Riyadh, 18 December 2012

Saudi Arabian Mining Company ("Ma'aden"), Saudi Arabia's leading mining company, signed a landmark SAR 9 billion Syndicated Revolving Facility today in Riyadh. This is the largest SAR-denominated revolving credit facility, the largest single-tranche syndicated corporate loan financing, and the second-largest syndicated SAR corporate loan financing ever concluded in Saudi Arabia.

The company was originally exploring a facility size of up to SAR 7 billion, but following an overwhelming response by the bank market, the management decided to upsize the facility to SAR 9 billion to accommodate the demand from the banks and also to further increase Ma'aden's financing flexibility. A syndicate of 11 local and international banks participated in the revolving credit facility, generating initial commitments exceeding SAR 17 billion (an oversubscription of almost 2.5x as compared to the originally targeted facility size). The unprecedented response from leading financial institutions underscores the fundamental strength of Ma'aden and highlights the market's confidence in the company's strategy as it embarks on supporting the diversification of the Kingdom's economy.

"We are very pleased with the outcome of this transaction, particularly that the company was able to achieve very competitive terms despite a busy financing calendar. It is testament to the bank market's confidence in the company and its ability to deliver on its growth strategy. Going forward, Ma'aden will be looking to further diversify its financing sources to support our growth plans in the medium to long term and to optimize our sources and costs of funding", Khalid Al-Mudaifer, President and CEO of Ma'aden commented.

"Today marks an important step for Ma'aden in the execution of our funding strategy. We are particularly proud of the level of support that we have received from the financial community. This support provides us with the flexibility we need to move forward on a number of investment plans across our diverse portfolio." said Khalid Al Rowais, Vice President of Finance for Ma'aden.

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About Ma'aden
Ma'aden was established as a Saudi Arabian joint stock company in March 1997 to facilitate the development of Saudi Arabia's non-petroleum mineral resources and to diversify the Kingdom's economy away from the petroleum and petrochemical sectors. Ma'aden is engaged in the development, advancement and improvement of all aspects of the mineral industry, mineral products and by-products and related industries in Saudi Arabia. In July 2008 Ma'aden offered 50% of the company's shares for subscription in a successful SR 9.25 billion IPO. Ma'aden has progressed towards realizing its vision of building a world class mineral enterprise and its mission of being a profitable, publicly owned, international mining company, while maintaining the utmost concern for human resources, health and safety, environmental and social issues.

Media contacts
Ma'aden
Aqeel Al Onazi
Manager, Media & Editorial
T: +966 01 874 8045
E: alonaziam@maaden.com.sa

For more information, please contact:
Iman Ahmed
ASDA'A Burson-Marsteller
+971 50 2058021
iman.ahmed@bm.com