| Element List |
Explanation |
| Introduction |
NAMA Chemicals Company is announcing that its subsidiary company, Jubail Chemicals Company (JANA), has signed a credit facility renewal agreement worth 100 million Saudi riyals, compatible with the provisions of Islamic Sharia, with Saudi Awwal Bank on October 03, 2023. |
| Date of obtaining the funding |
2023-10-03 Corresponding to 1445-03-18 |
| Financing entity |
Saudi Awwal Bank |
| Financing amount. |
100 million Saudi riyals |
| Financing duration. |
Six-month revolving facilities for one year (renewable). |
| Guarantees offered for the financing |
Promissory note |
| Financing objective |
Working capital financing |
| Related Parties |
There are no related parties |
| Additional Information |
These bank facilities were renewed with an increase in value of 59%, compared to the previous value of 63 million Saudi riyals, with the aim of supporting the company operations. The increase in the facility limit will replace a previously announced agreement with one the Saudi commercial banks which was not renewed with better conditions |
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