Sustained Infrastructure Holding Co. — Capital/Financing Update 2020

Mar 30, 2020

Saudi Industrial Services Company "SISCO" Announces the latest development for the signing of a contract for one of its subsidiaries with Saudi Ports Authority

2190 · 30/03/2020 13:46:35 · Announcement #58177 · View on Saudi Exchange

Saudi Industrial Services Company "SISCO" Announces the latest development for the signing of a contract for one of its subsidiaries with Saudi Ports Authority

Element List	Explanation
Introduction	Referring to the announcement of the Saudi Industrial Services Company (SISCO) on 26/04/1441H corresponding to 23/12/2019, for the signing of a new 30-year concession starting in 2020 between Red Sea Gateway Terminal Company (a subsidiary of SISCO in which it owns 60.6% of the share capital) and the Saudi Port Authority “Mawani” on a BOT basis.

On 5/08/1441H corresponding to 29/03/2020, Red Sea Gate Terminal Company signed an Islamic financing agreement with Banque Saudi Fransi and Al Rajhi Bank with a total amount of SAR 1,544 million. This includes extending the current Ijara facility of SAR 794 million to be payable over 10 years, and a new Ijara facility (“New Facility”) of SAR 750 million to be repaid over 10 years after a three-year grace period commencing from the date of signing.

The New Facility will be used to finance the redevelopment and consolidation of the northern part of Jeddah Islamic Port with the existing terminal, which is expected to be completed in March 2023. Previous Announcement The Saudi Industrial Services Company (SISCO) announces the signing of a contract for one of its subsidiaries with Saudi Ports Authority Date of Previous Announcement on Tadawul's Website 2019-12-23 Corresponding to 1441-04-26 Progress Not Applicable Event's Expected Completion Date Not Applicable Expenses Related to the Event, Whether They Changed or Not and Justification Not Applicable Impact of the Delay on the Company's Financial Results Not Applicable

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