Alujain reschedules facilities offered by Alinma Bank

Logo of Alujain Corp. 

Alujain Corp. announced today, July 10, amending the credit facilities agreement signed with Alinma Bank on August 16, 2021, to obtain SAR 1.26 billion Sharia-compliant refinancing facilities at competitive rates to finance the company's investments. 

In a statement to Tadawul, Alujain said the remaining rescheduled facilities amount to SAR 863.56 million. It added that the original eight-year financing term became nine years after rescheduling (including a 12-month grace period).

Alujain also indicated that the guarantees offered for the rescheduled financing are promissory notes and pledged shares. It also noted that there are no related parties to the agreement.