Al Jouf Cement reschedules SAR 374M facilities with Alinma Bank

23/07/2024 Argaam
Logo ofAl Jouf Cement Co.

Logo of Al Jouf Cement Co.

Al Jouf Cement Co. signed today, July 23, an agreement to reschedule Islamic facilities worth SAR 374 million with Alinma Bank, the company said in a statement to Tadawul.

 

The financing term after rescheduling is seven years ending in 2031, instead of 2029, including a two-year grace period.

 

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The facility is guaranteed by a promissory note and mortgage of a portion of the company's assets.

 

The rescheduling aims to support the cement producer’s operational and financial operations during the agreement term.

 

There are no related parties to the agreement, the statement added.

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