DEBT WATCH-

Emaar the Economic City finalized binding agreements with a consortium of banks to reschedule some SAR 3.39 bn worth of existing debt facilities and secure a new SAR 287 mn facility, the company said in a bourse filing.

The details: The rescheduling — involving Alinma Bank, Saudi Awwal Bank, Banque Saudi Fransi, and the Saudi National Bank — consolidates previous terms into a new arrangement maturing in 2033, with repayments kicking off in 2029 and a possible extension on part of the facility to 2036.

The rationale: The move comes as part of the company’s broader plan to shore up its liquidity, lower financing costs, and support its operational growth ambitions.

M&A WATCH-

Al Hammadi eyes 40% stake in Wareed Medical: Our friends at Al Hammadi Holding signed a non-binding MoU to buy a 40% stake in Wareed Medical Company, it said in a disclosure to Tadawul. The document is valid for 90 days and may be renewed with no financial impact expected until a final agreement is signed.

LOGISTICS-

Dammam to get a new SAR 200 mn logistics zone: The Saudi Ports Authority (Mawani) inked a contract with Dammam-based Sultan Logistics Company to develop a 197k sqm logistics zone at King Abdulaziz Port in Dammam, with SAR 200 mn earmarked for the investment, according to a statement.

The details: The project, which aims to strengthen operational efficiency at the port, will include a 35k sqm warehouse, a dedicated container storage area, a maintenance area for dry and temperature-controlled containers, and an administrative office.

FINANCIAL SERVICES-

The Saudi Central Bank (Sama) licensed Tamawal Company to offer digital brokerage services for financing, it said in a statement. This brings the total number of licensed companies in the sector to six.

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