Riyadh - Mubasher: Fawaz Abdulaziz Alhokair Company (Cenomi Retail) executed a SAR 1.57 billion facility agreement with Emirates NBD Bank KSA, according to a bourse filing.
The Saudi company obtained the three-year loan, on 11 December, with an option to extend for a total of two years. It will be utilized to finance he short-term loan.
Meanwhile, the financing is secured by two promissory notes to be provided by the company for SAR 1.60 billion. This is in addition to the corporate guarantee by Al Futtaim Private Company LLC for an amount of SAR 1.57 billion.
In September, Cenomi Retail received a SAR 1.35 billion shareholder loan from Al Futtaim Private and a SAR 1.60 billion banking facility from Emirates NBD Bank KSA.
