Ataa Educational Co. — Capital/Financing Update 2022

Mar 23, 2022

Ataa Educational Co. Announces Rescheduling Shariah-compliant Murabaha financing agreement offered by Emirates NBD

4292 · 23/03/2022 09:52:01 · Announcement #67240 · View on Saudi Exchange

Ataa Educational Co. Announces Rescheduling Shariah-compliant Murabaha financing agreement offered by Emirates NBD

Element List	Explanation
Introduction	Ataa Educational Company announces that a subsidiary company (Arab Group for Education and Training Holding Company) has signed a Shariah-compliant Murabaha financing agreement with Emirates NBD, amounting to SAR 100 million, to reschedule a number of loans owed to a group of Saudi banks
Date of singing the rescheduling of finance	2022-03-22 Corresponding to 1443-08-19
Financing entity	Emirates NBD
Reasons for rescheduling	The new agreement offers competitive prices and better commercial terms
The Financing amount and rescheduled part	The original amount: The original amount of loans with a group of Saudi banks is 100 million riyals

The value of the new Murabaha financing: 100 million riyals.

The Arab Group for Education and Training Holding Company will withdraw the entire new Murabaha financing to repay the rescheduled loans Financing Duration, before and after Rescheduling The maturity date of existing loans with a group of Saudi banks is 2022 AD

The maturity date of the new Murabaha financing in semi-annual installments, with a grace period of 6 months from the date of withdrawal (2022-2029) Guarantees offered for the rescheduled Financing Promissory note + real estate guarantee owned by the Arab Group for Education and Training Holding Company Related Parties None Additional Information None

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