{"id":100584,"date":"2025-09-15T00:00:00","date_gmt":"2025-09-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2025\/09\/15\/cenomi-retail-obtains-sar-1-6-bn-loan-to-refinance-debt\/"},"modified":"2025-09-15T00:00:00","modified_gmt":"2025-09-15T00:00:00","slug":"cenomi-retail-obtains-sar-1-6-bn-loan-to-refinance-debt","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2025\/09\/15\/cenomi-retail-obtains-sar-1-6-bn-loan-to-refinance-debt\/","title":{"rendered":"Cenomi Retail obtains SAR 1.6 bn loan to refinance debt"},"content":{"rendered":"

<\/strong>Fawaz Abdulaziz Alhoka<\/strong>ir Co. (Cenomi Retail) has secured a SAR 1.6 bn credit facility <\/strong>from Emirates NBD Bank<\/strong> to prepay and settle its existing bank debts, it said in a disclosure to Tadawul<\/a> yesterday.<\/p>\n

The details: <\/strong>The facility includes a 90-day short-term loan, set to be repaid by a three-year term loan with a possible two-year extension at the bank\u2019s discretion. It is backed by a SAR 1.6 bn promissory note from Cenomi and a SAR 1.6 bn corporate guarantee from Al Futtaim Private Company in exchange for a fee from Cenomi. The facility\u2019s utilization rests on the completion of a private transaction that will see Al Futtaim Retail Company join Cenomi Retail\u2019s shareholder base.<\/p>\n

REMEMBER-<\/strong> Al Futtaim Group\u2019s planned acquisition of a 49.95% stake in Cenomi Retail cleared a regulatory checkpoint last month<\/a>, after receiving the greenlight from the General Authority for Competition. The two retail giants had inked a share purchase agreement for SAR 2.5 bn (USD 667 mn) in July<\/a>. In addition to buying the stake from the founding Alhokair family shareholders, Al Futtaim will provide a SAR 1.3 bn loan to shore up Cenomi\u2019s finances and fund its recovery.<\/p>\n

Earnings snapshot:<\/strong> Cenomi Retail posted a SAR 85.3 mn net loss in 2Q 2025<\/a>, a reversal from a SAR 84.1 mn net income in 2Q 2024. The loss was attributed to a drop in operating income and a rise in expenses, including FX losses and a tax settlement. Revenues fell 7% y-o-y to SAR 1.1 bn, as the sales boost from Ramadan fell entirely in the first quarter of this year.<\/p>\n","protected":false},"excerpt":{"rendered":"

The financing is dependent on Al Futtaim\u2019s entry as shareholder<\/p>\n","protected":false},"author":1,"featured_media":100585,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2590],"tags":[4500,605,2441,57,4085,10],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-100584","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-al-futtaim-2","tag-cenomi-retail","tag-debt","tag-debt-watch","tag-emirates-nbd","tag-enterpriseam-ksa","wpautop","entry"],"acf":{"mongo_id":"9a811282-521c-43eb-a6e6-85d7eee1d3d8","order":"5","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/9\/803.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Cenomi Retail obtains SAR 1.6 bn loan from Emirates NBD to refinance debt","related_issue":[100576],"teaser":"The financing is dependent on Al Futtaim\u2019s entry as shareholder","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.2145a009-20c8-4d9e-b211-ee0e6c481bb3.mp3"},"yoast_head":"\nCenomi Retail obtains SAR 1.6 bn loan to refinance debt - 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