Riyadh – Mubasher: The National Industrialization Company (Tasnee) penned an agreement with Banque Saudi Fransi to reschedule an existing long-term Murabaha loan totaling SAR 2 billion.
The agreement, finalized on 7 September 2026, covers the full value of the financing originally established on 1 January 2019.
The company stated that the rescheduling is intended to extend the duration of the existing facility and adjust the repayment schedule to better align with its cash flow requirements.
Under the new terms, the financing period is set at seven years, matching the seven-year duration of the original facility. The debt remains secured by promissory notes.
Tasnee confirmed that the transaction involves a related party, as Talal Ibrahim Al Maiman serves as the Vice Chairman of the Board for both sides.
The company noted that the agreement was concluded within the ordinary course of business according to prevailing commercial terms and without any preferential treatment.
All relevant regulatory requirements regarding related-party transactions have been observed.
In the first half (H1) of 2026, Tasnee reported net losses valued at SAR 889.10 million, shifting from net profit of SAR 830 million in H1-25.
