Nama Chemicals inks deal to restructure loans with SIDF

The loan was restructured after paying Yansab shares sale proceeds

  
Image used for illustrative purpose. Petrochemical plant at dusk.

Image used for illustrative purpose. Petrochemical plant at dusk.

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Riyadh – Mubasher: Nama Chemicals Company has signed a final agreement to restructure existing loans worth SAR 451.626 million with the Saudi Industrial Development Fund (SIDF).

The loan was restructured after paying Yansab shares sale proceeds worth SAR 139.653 million as a prerequisite for developing the final agreement, according to a bourse filing on Sunday.

The payment schedule has been set for seven years, including a grace period until 6 May 2023, with the repayment to be extended until 24 March 2027.

As part of the agreement's terms, the company undertakes to deposit the rental proceeds of the investment property owned by Nama chemicals for the SIDF and work with the Fund to improve the financial position of Al Jubail Chemicals Company (Jana).

Source: Mubasher

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