Miahona unit signs SAR 210M refinancing deal with ANB

Miahona Co. signed a Shariah-compliant refinancing agreement with Arab National Bank (ANB), for SAR 210 million. The deal was signed through Miahona’s wholly owned subsidiary, Industrial Cities Development and Operations Co. (ICDOC).

The deal includes two term financing facilities — one to refinance existing liabilities with a local bank, and the other to support capital expenditure requirements. The total financing amount includes the refinancing of an existing liability worth SAR 159.23 million, Miahona said in a statement on Tadawul.

The company stated that the original debt was scheduled to mature in February 2026; however, the restructured facilities carry a five-year term, with repayment ending in July 2030.

Miahona explained that the refinancing aims to enhance financial flexibility, support organic growth, and unlock potential development opportunities in its franchise-based industrial cities.

The move also improves cash flow efficiency and capital structure, aligning with the company’s long-term strategic plans.

The guarantee arrangement includes the transfer of receivables, insurance proceeds, pledge of designated bank accounts, a six-month debt service reserve account, and promissory notes.

The company confirmed that no related parties are involved in the deal.