| Element List |
Explanation |
| Introduction |
Methanol Chemicals Company announces that it has received on 10/08/1442 H corresponding to 23/03/2021 the approval of the Saudi Industrial Development Fund (SIDF) to reschedule the remaining balance of its loan amounting to SAR 245,000,000 (the remaining part of the original loan of SAR 703,180,000). Accordingly, an agreement has been signed, including extension of the repayment period by one additional year, to 2022 instead of 2021. |
| Date of singing the rescheduling of finance |
2021-03-23 Corresponding to 1442-08-10 |
| Financing entity |
Saudi Industrial Development Fund (SIDF) |
| Reasons for rescheduling |
To support the Company’s financial position |
| The Financing amount and rescheduled part |
Total value of the financing agreement is SAR 703,180,000 of which an amount of SAR 458,180,000 was repaid whereas the rescheduled amount is SAR 245,000,000. |
| Financing Duration, before and after Rescheduling |
Extended by an additional one year to end in 2022 instead of 2021 |
| Guarantees offered for the rescheduled Financing |
There have been no modifications in the previous guarantees (Promissory Note and extension of the existing mortgage on fixed assets) |
| Related Parties |
No related parties |
| Additional Information |
No additional information |
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