Al-Arabia Secures Extended Terms on SAR1.75 Billion Short-term Bank Facilities

06:39 AM EDT, 10/29/2026 (MT Newswires) -- Arabian Contracting Services Co. (SASE:4071), d/b/a Al-Arabia, secured agreements with Saudi Awwal Bank, Banque Saudi Fransi and Alrajhi Bank to extend the terms of certain existing short-term banking facilities. The agreements cover 1.75 billion Saudi riyals of facilities, according to a Thursday release. The 12-month loans from Saudi Awwal Bank and Alrajhi Bank were each extended to seven years, with a one-year grace period, while the 360-day loan from Banque Saudi Fransi now carries a 15-month repayment period. In addition, Al-Arabia secured an additional 300 million riyals in loans from Saudi Awwal Bank under its existing facilities. The advertising company's credit facilities from the banks amount to a total of 3.52 billion riyals. The rescheduling is to align with Al-Arabia's cash flows and timelines to bolster its financial position.