Methanol Chemicals Co. — Capital/Financing Update 2021

Mar 23, 2021

Methanol Chemicals Company announces the rescheduling of the Saudi Industrial Development Fund (SIDF) loan amounting to SAR 245 million

2001 · 23/03/2021 15:54:52 · Announcement #62378 · View on Saudi Exchange

Methanol Chemicals Company announces the rescheduling of the Saudi Industrial Development Fund (SIDF) loan amounting to SAR 245 million

Element List	Explanation
Introduction	Methanol Chemicals Company announces that it has received on 10/08/1442 H corresponding to 23/03/2021 the approval of the Saudi Industrial Development Fund (SIDF) to reschedule the remaining balance of its loan amounting to SAR 245,000,000 (the remaining part of the original loan of SAR 703,180,000). Accordingly, an agreement has been signed, including extension of the repayment period by one additional year, to 2022 instead of 2021.
Date of singing the rescheduling of finance	2021-03-23 Corresponding to 1442-08-10
Financing entity	Saudi Industrial Development Fund (SIDF)
Reasons for rescheduling	To support the Company’s financial position
The Financing amount and rescheduled part	Total value of the financing agreement is SAR 703,180,000 of which an amount of SAR 458,180,000 was repaid whereas the rescheduled amount is SAR 245,000,000.
Financing Duration, before and after Rescheduling	Extended by an additional one year to end in 2022 instead of 2021
Guarantees offered for the rescheduled Financing	There have been no modifications in the previous guarantees (Promissory Note and extension of the existing mortgage on fixed assets)
Related Parties	No related parties
Additional Information	No additional information

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