Riyadh - Mubasher: Fawaz Abdulaziz Alhokair Company (Cenomi Retail) has secured SAR 2.95 billion in new loan facilities, according to two separate bourse disclosures.
The package includes a SAR 1.35 billion shareholder loan from Al Futtaim Private Company and a SAR 1.60 billion banking facility from Emirates NBD Bank KSA.
The shareholder facility will be utilized to enhance the company's current financial status and enable it to overcome its existing challenges.
Holding a tenor. of 90 days, the facility will be refinanced into a three-year term loan, with an option to extend for two years. Proceeds from the loan will be used to prepay and settle existing bank debts.
In the first half (H1) of 2025, Cenomi Retail incurred 23.07% year-on-year (YoY) higher net losses valued at SAR 83.20 million, compared to SAR 67.60 million.
