Saudi Arabian Amiantit Co. Announces Rescheduling Bank Facilities offered by The Saudi National Bank

Element List	Explanation
Introduction	Saudi Arabian Amiantit Co. is pleased to announce to the shareholders the signing of an agreement to reschedule banking facilities agreement with The Saudi National Bank, which will have a positive impact on enhancing the company's performance during the next period.
Date of singing the rescheduling of finance	2021-10-03 Corresponding to 1443-02-26
Financing entity	The Saudi National Bank
Reasons for rescheduling	To improve and arrange the company's cashflow and to enhance the operations of the company which is appropriate with the new schedule period i.e. 10 years, and reduce the annual financial charges from SIBOR +3.25% to be SIBOR +1.5%.
The Financing amount and rescheduled part	Total facilities: SAR 330,000,000

The reschedule portion SAR : 330,000,000 Financing Duration, before and after Rescheduling A. The financing period before scheduling is as follows:

1- Pervious Facility was SAR 313,000,000.

2- Tayseer Tijari sub-limit ,L/C, L/G SAR 110,900,000

3- Tayseer Tijari for one time SAR 219,100,000

B- The financing period after scheduling is as follows:

1- Tayseer Tijari for one time SAR 219,100,000 (non-revolving ) for total tenor of 10 years inclusive of 2 years grace period repaid on semiannual installments and profit to be paid semiannually during grace period (last installment not to exceed December 31st 2031).

2- Tayseer Tijari sub-limit ,L/C, L/G SAR 110,900,000 to be availed against any repaid installment from the main limit not exceeding 30% from Gross Limit to finance working capital requirements through direct purchases of raw material and CAPEX, for aggregate period not exceeding 12 months. Guarantees offered for the rescheduled Financing Corporate Guarantee Related Parties There are no related parties

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