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Jabal Omar Development Company announces the signing of a facility agreement with Bank Albilad

Introduction
Jabal Omar Development Company (“JODC” or the “Company”) announces the signing of a SAR 1.0bn facility agreement with Bank Albilad.

Date of singing the rescheduling of finance
2021-12-09 Corresponding to 1443-05-05

Financing entity
Bank Albilad

Financing amount
SAR 1,000,000,000 repaid through equal semi-annual instalments over the life of the loan with a final payment.

Financing duration
8 years with a grace period of 12 months

Guarantees offered for the financing
Security over certain real estate assets within the Jabal Omar Project

Financing objective
Repayment in full of SAR 643,739,135 of principal and accrued interest on the existing unsecured facility with Bank Albilad. Remaining balance will be used for extinguishing certain expensive liabilities and financing general corporate expenses.

Related Parties
None

Additional Information
This agreement is an integral component of the Company’s capital structure optimization plan, which aims to improve the Company’s funding structure and reduce its financing costs.

Other Disclosures

Jabal Omar Development Company announces the full and final redemption of its Sukuk

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Jabal Omar Development Co. announces to Invites its Shareholders to Attend the ( First Meeting ) Extraordinary General Assembly Meeting

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Jabal Omar Development Co. announces its Interim Financial Results for the Period Ending on 2023-09-30 ( Nine Months )

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Jabal Omar Development Co. Announces Appointment Audit Committee Member

Introduction Jabal Omar development Company announces its Board of Directors’ resolution issued on 18-4-1445 Corresponding to 2-11-2023 to appoint Mr. Mazen Fawaz Baghdadi (Independent Board Member) as a member of the Audit Committee, provided that this appointment is effective from the date of this resolution until the end date of the current Board of Directors […]
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