“Sinomi Retail”: facilities with Emirates NBD amounting to 1.57 billion riyals
Company announced "Sinomi Retail" announced that it had concluded term loan agreements amounting to 1.57 billion riyals with Emirates NBD Bank.
According to a statement on… "Saudi Arabia trading"Today, Sunday, this loan is equivalent to the amount borrowed by the company under the credit facility agreement concluded with the bank on September 14, 2025, which was concluded in the form of short-term financing, provided that it is refinanced with a term loan (term loan) within 90 days from the date of obtaining the short-term loan.
The financing period is 3 years, with an option to extend for two years (at the bank’s absolute discretion), in exchange for a promissory note from the company in the amount of 1.67 billion riyals, Flash is provided by Al-Futtaim Private Company W.L.L., for an amount of 1.57 billion riyals, and the advance is in exchange for specific fees paid by the company.
Al-Futtaim Private Company W.L.L. A related party as it is an affiliate of Al-Futtaim Retail Company, which is considered a related party as it is a major shareholder in the company. The administrative fees incurred for the loan, which will be obtained under the term loan agreement, will be paid by the company.
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