Modern Mills makes early SAR 100M loan repayment to SNB

25/03/2025 Argaam
Logo of Modern Mills Co.

Logo of Modern Mills Co.

Modern Mills Co. announced the early and voluntary repayment of SAR 100 million of its existing Murabaha financing with Saudi National Bank (SNB).

 

In a statement to Tadawul today, March 25, the company said this early repayment reflected its strong financial position and solid cash flows.

 

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It added that the move is expected to cut incremental costs and strengthen Modern Mills balance sheet.

 

According to data available with Argaam, Modern Mills signed a Murabaha financing agreement with SNB in October 2024 to restructure its existing financing of SAR 871 million.

 

In December 2024, the company announced the early partial repayment of SAR 95 million from its SNB financing.

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