Modern Mills signs SAR 871M Murabaha agreement with SNB

08:50 AM (Mecca time) Argaam
Logo ofModern Mills Co.

Logo of Modern Mills Co.

Modern Mills Co. signed a SAR 871 million Murabaha agreement with Saudi National Bank (SNB) to restructure its existing financing.

 

For more news on listed companies

 

In a statement to Tadawul, the company said the financing term is 14 years and three months, matching the duration of the previous financing. The facility is fully secured by promissory notes.

 

The purpose of the deal is to repay the existing financing from Alinma Bank, support future expansion, and meet working capital requirements under more favorable terms and interest rates. This is expected to contribute to the company's strategy and enhance future cash flows.

 

There are no related parties to the agreement, the statement added.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.