Logo of Fawaz Abdulaziz Al Hokair & Partners Company – Sinomi Retail
Fawaz Abdulaziz Al Hokair & Co. – Sinomi Retail announced that it had concluded term loan agreements last Thursday with Emirates NBD Bank in the amount of 1.58 billion riyals, which is equivalent to the amount that the company borrowed under the credit facility agreement.
The company said in a statement on Tadawul that the financing period is 3 years, with an option to extend for two years (at the bank’s absolute discretion), noting that it provided a promissory note worth 1.68 billion riyals, and a guarantee provided by Al-Futtaim Private Company LLC. For an amount of 1.58 billion riyals, provided in exchange for specific fees paid by the company.
The company indicated that it aims to refinance the short-term loan it obtained from Emirates NBD, indicating that the administrative fees resulting from the loan, which will be obtained under the term loan agreement, will be paid by the company.
She said that Al-Futtaim Private Company W.L.L. It is considered a related party as it is an affiliate of Al-Futtaim Retail Company, which is considered a related party as it is a major shareholder in the company.
According to the data available in numbersOn September 14, 2025, Sinomi Retail had concluded a credit facility agreement with Emirates NBD Bank worth 1.6 billion riyals, which was concluded in the form of short-term financing, to be refinanced with a term loan within 90 days from the date of obtaining it.
