Saudi Arabian Mining Co. — Capital/Financing Update 2018

Nov 22, 2018

ADDENDUM ANNOUNCEMENT FROM SAUDI ARABIAN MINING COMPANY (MAADEN) THAT ITS SUBSIDIARY (MAADEN WAAD AL SHAMAL PHOSPHATE COMPANY) HAS SIGNED FINANCING AGREEMENT WITH THE SAUDI INDUSTRIAL DEVELOPMENT FUND (SIDF)

1211 · 22/11/2018 16:01:46 · Announcement #52749 · View on Saudi Exchange

ADDENDUM ANNOUNCEMENT FROM SAUDI ARABIAN MINING COMPANY (MAADEN) THAT ITS SUBSIDIARY (MAADEN WAAD AL SHAMAL PHOSPHATE COMPANY) HAS SIGNED FINANCING AGREEMENT WITH THE SAUDI INDUSTRIAL DEVELOPMENT FUND (SIDF)

Element List	Explanation
Date of posting the previous announcement on Tadawul’s website	2017-07-31 Corresponding to 1438-11-08
Subject of the previous announcement	SAUDI ARABIAN MINING COMPANY (MAADEN) ANNOUNCES THAT ITS SUBSIDIARY (MAADEN WAAD AL SHAMAL PHOSPHATE COMPANY) HAS SIGNED FINANCING AGREEMENT WITH THE SAUDI INDUSTRIAL DEVELOPMENT FUND (SIDF)
Change Details on development	Further to the company announcement on Tadawul on 08/11/1438H (corresponding to 31/07/2017G), Saudi Arabian Mining Company (Maaden) announces that its subsidiary (Maaden Waad Al Shamal Phosphate Company) has signed today, Thursday 14/03/1440H (corresponding to 22/11/2018G) two financing agreements with the Saudi Industrial Development Fund (SIDF) to complete the construction of MWSPC projects based on the financing plan for the MWSPC projects.

The two financing agreements are for a total amount of SAR 1.9 billion (USD 506 million), as detailed below:

First, Loan facility of SAR 1 billion to finance the construction of MWSPCs sulphuric acid plant as well as the power plant in the city of Waad Al Shamal, which will be repaid in 24 semi-annual installments starting on 15/10/1441H over a period of twelve years.

Second, loan facility of SAR 900 million to finance construction of MWSPCs DAP plant in the city of Ras Al-Khair (RAK), which will be repaid in 20 semi-annual installments starting on 15/10/1441H over a period of ten years.

Plant assets will be mortgaged to SIDF. Financial Impact on the change None Additional Information Saudi Arabian Mining Company (Maaden), The Mosaic Company and Saudi Basic Industries Corporation (SABIC) own 60%, 25% and 15%, respectively, of the joint venture developing the Waad Al Shamal Phosphate project.

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