‎First Mills signs SAR 630M credit facilities with SAB

First Milling Co. (First Mills) signed a long-term Shariah-compliant bank facility agreement worth SAR 630 million with Saudi Awwal Bank (SAB).

In a filing to Tadawul, the company said this mixed-use deal aims to support the company’s commercial and operation activities, contributing to its future expansion.

The financing, available until Dec. 31, 2035, is guaranteed under promissory notes of the facility amounts, First Mills said.

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It added that the loans aims to support the company’s growth and expansion while aligning with its strategy to optimize financing costs, enhance profitability, and drive sustainable long-term returns for shareholders. The facilities include financing debt repayments, financing working capital requirements, bank guarantee facilities, and letters of credit, when needed.

The board of directors approved the funding on March 23, 2025, with all necessary legal procedures completed and signatures received as a final version on April 20, 2025.

Any major development related to the financing facility will be announced as per the related regulations and instructions.

First Milling Co. (First Mills) signed a long-term Shariah-compliant bank facility agreement worth SAR 630 million with Saudi Awwal Bank (SAB).

In a filing to Tadawul, the company said this mixed-use deal aims to support the company’s commercial and operation activities, contributing to its future expansion.

The financing, available until Dec. 31, 2035, is guaranteed under promissory notes of the facility amounts, First Mills said.

It added that the loans aims to support the company’s growth and expansion while aligning with its strategy to optimize financing costs, enhance profitability, and drive sustainable long-term returns for shareholders. The facilities include financing debt repayments, financing working capital requirements, bank guarantee facilities, and letters of credit, when needed.

The board of directors approved the funding on March 23, 2025, with all necessary legal procedures completed and signatures received as a final version on April 20, 2025.

Any major development related to the financing facility will be announced as per the related regulations and instructions.