Nama Chemicals' board approves SIDF's debt restructure offer

Nama received a final offer from SIDF on April 1

  
Petrochemical Plant. Image used for illustrative purpose.

Petrochemical Plant. Image used for illustrative purpose.

Getty Images
Riyadh – Mubasher: The board of Nama Chemicals Company has approved the debt restructure offer of the Saudi Industrial Development Fund (SIDF) to reschedule the company's defaulted loans valued at SAR 591,279.

The company has held several meetings with SIDF to review some of the terms of the offer, which was made on 19 November 2020, according to the company's disclosure to the Saudi Stock Exchange (Tadawul) on Sunday.

On 1 April 2021, Nama received a final offer from SIDF, including SIDF's approval to reschedule defaulted loans.

The offer will have a positive impact on the company's financial statements.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2021 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

More From Financial Services