Tawasul
Mubasher TV
Contact Us Advertising   العربية

Emaar The Economic City receives ministerial nod for rescheduling SAR 5.36bn loan

Emaar The Economic City receives ministerial nod for rescheduling SAR 5.36bn loan
The last payment in June 2030 will be worth SAR 800 million
EMAAR EC
4220
0.79% 12.70 0.10

Riyadh – Mubasher: Emaar The Economic City has received the Ministry of Finance’s approval for rescheduling the payment of a loan totalling SAR 5.36 billion.

The company also obtained ministerial approval for capitalising debt commissions for the years 2019, 2020, and 2021 at SAR 363.96 million to be added to the gross value of the loan, according to a bourse disclosure on Sunday.

The first instalment of the due rescheduled amount after capitalisation will be SAR 2.53 billion that will be matured in June 2024.

This will be followed by equal payments of SAR 760.66 million for six years, with the last payment in June 2030 to be worth SAR 800 million.