“Sinomi Retil” concludes two facilities with 2.95 billion riyals
A company announced "Sinomi Retel"Today, Sunday, it concludes an agreement to facilitate a shareholder loan with a company "Al -Futtaim retail" And company "The special pad" And according to which a shareholder loan will be granted to the company by Al -Futtaim Company for 1.35 billion riyals. "Pyramid" It was "Sinomi Retel" It has received a notice on July 20, from a number of its senior shareholders stating that they have concluded an agreement to sell a portion of their share in the company to Al -Futtaim Retail Company, and included pre -conditions for completing the deal to conclude the company and Al -Futtaim Retail Company. Arrow in the company, through a special acquisition deal. "Saudi Arabia trading"Today, any amounts obtained will be paid under the loan agreement (and all the commission amounts of it) will be paid totally, after 5 years starting from the date of completion of the deal, knowing that the funded entity has the option to demand the payment of the existing shareholder loan at any time after 3 months of the date of completion of the deal. The current financial situation of the company, enabling it to overcome the existing challenges and maintain the continuity of its business and in a manner that achieves its interests and the interests of its shareholders, knowing that, according to the loan agreement, all funding amounts will be used to pay the obligations due to the company. The loan, as it will become a major shareholder in the company when completing the private deal. Consider the conditions of trading and the prevailing market at the time (and other related provisions, as well as for the approval of the relevant regulatory authorities and the approval of the unusual general assembly of the company and other relevant regulatory requirements. "Sinomi Retel"Today, Sunday, the signing of a short -term credit facilitation agreement (90 days) with Emirates NBD – the Kingdom of Saudi Arabia with an amount of 1.6 billion riyals. The link. "Cinematic" The guarantees provided for financing are a support of the company of 1.6 billion riyals, in addition to a guarantee provided by a company "The special pad" At a value of 1.6 billion riyals, it will be provided for a specific fee paid by the company, while financing aims to pay the company’s bank debts.
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