Methanol Chemicals Co. — Capital/Financing Update 2021

Feb 28, 2021

Methanol Chemicals Company announces signing of an agreement for restructuring the outstanding loans of SAR 475 million with the Lenders

2001 · 28/02/2021 08:04:48 · Announcement #62034 · View on Saudi Exchange

Methanol Chemicals Company announces signing of an agreement for restructuring the outstanding loans of SAR 475 million with the Lenders

Element List	Explanation
Introduction	Methanol Chemicals Company announces that it has signed on Thursday 13/07/1442H corresponding to 25/02/2021 an agreement for restructuring the outstanding loans of SAR 475 million with a consortium of local banks; namely Gulf International Bank (GIB), The Saudi British Bank (SABB), Riyadh Bank, Samba Financial Group.

Under this agreement, it is agreed to extend the repayment period of the outstanding loan by six years, to 2028 instead of 2022. This will entail a decrease in annual finance costs and improve the cash flows, which will support the Company’s financial position and strategic objectives. In this connection, the Company’s management would like to extend its gratitude and appreciation to the Lenders and the financial advisor (Riyad Bank) for their positive and valuable contribution that will support the Company’s plans and enhance its financial position. Date of singing the rescheduling of finance 2021-02-25 Corresponding to 1442-07-13 Financing entity Gulf International Bank (GIB), The Saudi British Bank (SABB), Riyadh Bank, Samba Financial Group Reasons for rescheduling To support the Company’s financial position The Financing amount and rescheduled part SAR 475 million Financing Duration, before and after Rescheduling Additional six years until 2028 instead of the previously agreed 2022 Guarantees offered for the rescheduled Financing There have been no modifications in the previous guarantees (Promissory Note) Related Parties No related parties Additional Information No additional information

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