Saudi Fisheries signs deal with SALIC to repay SAR 19M

Logo of Saudi Fisheries Co.

Saudi Fisheries Co. (Alasmak) said today, June 3, that the medium-term, SAR 19 million Tawarruq loan from Riyad Bank was secured by a promissory note and a full-value guarantee letter from the Saudi Agricultural and Livestock Investment Company (SALIC).

Riyad Bank collected the full loan value of SAR 19 million from SALIC, ahead of the maturity date on June 8, 2025, according to a statement to Tadawul.

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Further, Saudi Fisheries signed an agreement with SALIC to repay the discounted loan of SAR 19 million in monthly installments starting from July 2025 until May 2026.

On May 15, 2025, Saudi Fisheries board had approved the repayment agreement with SALIC. The board also ratified mortgaging the company’s land of 6,263.96 square meters (sqm) in Riyadh, in favor of SALIC as collateral.

The relevant financial impact will reflect positively on the company’s cash flows, and any developments in this regard will be announced, the statement said.

Saudi Fisheries signed a financing agreement with Riyad Bank in June 2024 for SAR 19 million, Argaam earlier reported.

The collateral provided included a promissory note for the full value of the loan issued by the company, along with a full-value guarantee letter.

There are no related parties involved.