Nama Chemicals board approves SIDF offer to reschedule loans

04/04/2021 Argaam

Logo of Nama Chemicals

Nama Chemicals Co. received, on April 1, 2021, a final offer from the Saudi Industrial Development Fund (SIDF) to reschedule its defaulted loans, according to a bourse filing.

 

After reviewing the offer and receiving the recommendation of Nama's executive management in this regard, the company's board of directors approved the offer on April 1, 2021.

 

The company held several meetings with the fund to review some of the offer terms since receiving the offer on Nov. 19, 2020.

 

Nama received, in November 2020, an offer from SIDF to reschedule its insolvent loans, according to data compiled by Argaam.

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