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Saudi Kayan Petrochemical Company announces the latest developments regarding the signing of financing agreements

11/29/2022

ELEMENT LIST EXPLANATION
Introduction Saudi Kayan Petrochemical Company announces the payment of the last installment of the senior loans in the amount of 644 million USD, equivalent to 2,4 billion SAR on 28-11-2022, Thus, the company's senior financing loans have been fully settled which Saudi Kayan entered on 31 May 2008 with a group of banks and financial institutions in amount of 6 billion USD, which equivalent to 22,5 billion SAR for 15 years ahead to the agreed scheduled payment plan to finance part of the expenses of building its (Saudi Kayan) complex in Jubail Industrial City. The complex is the one of the world's largest integrated petrochemical complex.
Previous Announcement SAUDI KAYAN announces the signing of financing agreements
Date of Previous Announcement on Tadawul's Website 2008-05-31 Corresponding to 1429-05-26
Percentage of fulfilled achievement 100%
Event's Expected Completion Date The payment has been settled ahead of the scheduled plan.
Reasons for Exceeding the Announced End Date NA
The costs associated with the event, and if they have changed or not with indication of the reasons. NA
Impact of the Delay on the Company's Financial Results NA
Additional Information It is expected that the positive financial impact on the company will be a decrease in financial costs by approximately 54 million Saudi Riyals.