‎Al Arabia reschedules SAR 1.75B in debt with 3 banks

Arabian Contracting Services Co. (Al Arabia) has signed agreements with Saudi Awwal Bank (SAB), Banque Saudi Fransi (BSF), and Al Rajhi Bank to reschedule SAR 1.75 billion in existing short-term banking facilities into medium- and long-term financing.

The company also secured additional facilities worth SAR 300 million from SAB under its existing credit arrangements, bringing total banking facilities to SAR 3.52 billion, it said in a statement to Tadawul.

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Al Arabia said the rescheduling consolidates previously granted financing facilities under a single agreement with each bank.

Bank

Financing term before rescheduling

Financing term after rescheduling

Guarantees for rescheduled financing

SAB

12 months

7 years, including a one-year grace period, with quarterly repayments commencing after the grace period

Promissory note worth SAR 2.22 billion

BSF

360 days

15 months, with repayment in 15 monthly installments

Promissory note worth SAR 130.98 million

Al Rajhi Bank

12 months

7 years, including a one-year grace period, with quarterly repayments commencing after the grace period

Promissory note worth SAR 1.16 billion

Al Arabia said the restructuring aligns its financing obligations with cash flows and project timelines, reflecting the nature of its business and long-term projects, and is expected to strengthen its financial position.

Arabian Contracting Services Co. (Al Arabia) has signed agreements with Saudi Awwal Bank (SAB), Banque Saudi Fransi (BSF), and Al Rajhi Bank to reschedule SAR 1.75 billion in existing short-term banking facilities into medium- and long-term financing.

The company also secured additional facilities worth SAR 300 million from SAB under its existing credit arrangements, bringing total banking facilities to SAR 3.52 billion, it said in a statement to Tadawul.

Al Arabia said the rescheduling consolidates previously granted financing facilities under a single agreement with each bank.

Bank

Financing term before rescheduling

Financing term after rescheduling

Guarantees for rescheduled financing

SAB

12 months

7 years, including a one-year grace period, with quarterly repayments commencing after the grace period

Promissory note worth SAR 2.22 billion

BSF

360 days

15 months, with repayment in 15 monthly installments

Promissory note worth SAR 130.98 million

Al Rajhi Bank

12 months

7 years, including a one-year grace period, with quarterly repayments commencing after the grace period

Promissory note worth SAR 1.16 billion

Al Arabia said the restructuring aligns its financing obligations with cash flows and project timelines, reflecting the nature of its business and long-term projects, and is expected to strengthen its financial position.