Yamama Cement makes early repayment of SAR 738 mln loan installment

17/12/2020 Argaam

Yamama Cement Co. made an early repayment of the loan installment amounting to SAR 738 million from its available cash balance, the company said in a bourse statement.

 

The cement maker said the loan was secured from the Saudi Industrial Development Fund (SIDF), National Commercial Bank (NCB) and Samba Financial Group.  

 

Accordingly, the cement maker has so far repaid SAR 792 million of the total loan, while the remaining debt amounts to SAR 1.30 billion.

 

The move was part of the company’s strategy that aims to enhance financial efficiency, Yamama Cement added, expecting the related financial impact to show on FY2020 financial statements.

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