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In reference toour disclosure dated 30/03/2021 regarding the approval of the Board of Directors of Al Mazaya Holding Company KPSC (Holding) to sign a credit facility agreement with a Kuwaiti bank, we hereby inform you that the related official credit facility contracts have been signed with a Kuwaiti bank which grant a facility limit amounting to KD 24,488,732 (twenty-four million and four hundred eighty-eight thousand and seven hundred and thirty-two Kuwaiti Dinars) to reprofile the original outstanding facility of KD 22,700,000 in addition to the related due finance cost towards the bank. The facility tenor is 6 years, where the first installment is due upon completing the related signatures from all contractual parties, followed by equal installments for a period of five years, and a final installment due at the end of the contract term on 31/01/2027.
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Disclosure updates
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Those facilities shall improve the Company’s liquidity during its tenor, and will be recorded in the company's financial statements of the second quarter of 2021
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Financial impact of the update (if any)
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