Riyadh — Mubasher: National Agricultural Development Company (Nadec) revealed that its wholly owned subsidiary Al Raie National Livestock Company signed an amendment to its financing agreement with the Agricultural Development Fund of Saudi Arabia (ADF) on 29 September 2026.
The amendment reduces the maximum financing ceiling for an intensive sheep and goat breeding and meat production project from SAR 1.11 billion to SAR 750 million, according to a bourse filing.
The restructuring follows a re-evaluation of the project's implementation phases and financing structure.
According to the disclosure, the revised model improves capital allocation efficiency and reduces the requirement for external debt.
Under the new terms, the total financing duration has been extended from 15 years to 16 years. This change includes an additional one-year extension of the grace period, which now totals four years instead of the original three years.
Existing guarantees provided by Nadec, which include corporate guarantees and a mortgage on land in Wadi Al Dawasir, will be reviewed to align with the reduced loan ceiling.
The listed company stated that no additional mortgages are expected to be required as a result of these adjustments.
