Nama Chemicals Co. has obtained the approval of the Saudi Industrial Development Fund (SIDF) on reconsidering its previously-rejected debt-restructuring request, the company said in a bourse filing.

 

“The proposed debt-rescheduling plan should guarantee timely and reasonable payments to all creditors,” the statement added.

 

SIDF indicated that Nama’s ongoing corrective measures and revamping plans will pave the way for the debt restructuring decision.

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