The Saudi National Bank has restructured the debt on the existing loan it granted to the Saudi Real Estate Company in the amount of 2.07 billion riyals, with a repayment schedule aligned with the company’s future cash flows.

The company clarified that the term of the previous financing for Facility No. (1), amounting to 1.62 billion riyals, is 7 years with a grace period until the first installment is due on November 21, 2021. It noted that Facility No. (2), in the amount of 450 million riyals, was due for repayment on August 21, 2020, while the financing term for the full loan amount after rescheduling is 12 years with a 4-year grace period.