{"id":107475,"date":"2025-09-15T00:00:00","date_gmt":"2025-09-15T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/emirates-nbd-ksa-to-hand-cenomi-retail-a-sar-1-6-bn-loan\/"},"modified":"2025-09-15T00:00:00","modified_gmt":"2025-09-15T00:00:00","slug":"emirates-nbd-ksa-to-hand-cenomi-retail-a-sar-1-6-bn-loan","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2025\/09\/15\/emirates-nbd-ksa-to-hand-cenomi-retail-a-sar-1-6-bn-loan\/","title":{"rendered":"Emirates NBD KSA to hand Cenomi Retail a SAR 1.6 bn loan"},"content":{"rendered":"

Emirates NBD Saudi Arabia is extending a SAR 1.6 bn credit facility to Saudi retail firm Cenomi Reta<\/strong>il<\/strong> to prepay and settle its existing bank debts<\/strong>, the company said in a disclosure to Tadawul<\/a> yesterday. The facility will be offered under the condition of the completion of Al Futtaim Group\u2019s acquisition of Cenomi Retail. <\/p>\n

REMEMBER-<\/strong> Al Futtaim Group\u2019s planned acquisition of a 49.95% stake in Cenomi Retail cleared a regulatory checkpoint <\/span>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) <\/span>in July<\/a>. Al Futtaim had said it will provide a SAR 1.3 bn loan to shore up Cenomi\u2019s finances and fund its recovery.<\/span><\/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. <\/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. <\/p>\n","protected":false},"excerpt":{"rendered":"

The financing is dependent on Al Futtaim\u2019s completion of its acquisition of a stake in the company<\/p>\n","protected":false},"author":1,"featured_media":107476,"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":[1546],"tags":[115,1391,68,260],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-107475","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-al-futtaim","tag-debt","tag-debt-watch","tag-emirates-nbd","wpautop","entry"],"acf":{"mongo_id":"84929432-0cf4-4143-b34d-782fc455682a","order":"4","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2025\/7\/1277.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Emirates NBD KSA to hand Cenomi Retail a SAR 1.6 bn loan","related_issue":[107468],"teaser":"The financing is dependent on Al Futtaim\u2019s completion of its acquisition of a stake in the company","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2025\/9\/.7ad33abc-9961-45d9-8e24-7a6f9fc1c01a.mp3"},"yoast_head":"\nEmirates NBD KSA to hand Cenomi Retail a SAR 1.6 bn loan - 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