The Methanol Chemicals Company (Chemanol) announced today, Sunday, the signing of an agreement to restructure existing loans, with a group of local banks, at a value of 475 million riyals.
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The company said in a statement to the Saudi market (Tadawul) that the agreement had been signed with several banks, including Gulf International Bank, Saudi British Bank (SABB), Riyad Bank. Samba Financial Group.
and indicated that the agreement includes extending the repayment period to an additional 6 years ending in 2028 instead of 2022, and this will result in a reduction in annual financial costs and an improvement in cash flows, which supports The financial position and strategic objectives of the company.
The company also noted that there has been no amendment to the previous guarantees, and there are no parties related to the agreement.
