Aseer Trading, Tourism and Manufacturing Co. announces that Al Rabie Saudi Foods Company, a "Subsidiary to Aseer Co." has concluded an Islamic Financing Agreement with Samba Financial Group

Element List	Explanation
Introduction	Al Rabie Saudi Food Company Ltd., a subsidiary of Aseer Company for Trade, Tourism, Industry, Agriculture, Real Estate and Contracting Business, has completed the procedures for signing a financing facility agreement compatible with the provisions of Islamic Sharia with the Samba Financial Group.
Date of obtaining the funding	2021-02-01 Corresponding to 1442-06-19
Financing entity	Samba Financial Group
Financing amount.	The total value of the financing facilities is SAR 342 Million, of which SAR 150 Million are a long term loan and SAR 192 Million for working capital financing.
Financing duration.	- The duration of the long term loan is Five Years including Six Months grace period.

- The duration for the working capital is for one year/renewable on yearly basis Guarantees offered for the financing Promissory Note for the total facility amount. Financing objective The purpose of the facility is to restructure the bank facilities of the company by:

- SAR144 Million for early settlement of existing Loans with a local bank.

- SAR 6 Million for Capital Expenditure as needed.

- SAR192 Million to finance working capital for meeting the requirements of Company's operation. Related Parties NONE Additional Information AlRabie Saudi Foods Co., is limited liability company engaged in the manufacturing of dairy products, fruit drinks, juices, and canned food. The Company is owned 57.3% by Aseer Al Arabiah for Industrial Investment Co. that fully owned by Aseer Trading, Tourism, Industry, Agriculture, Real Estate and Contracting Company.

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