Emaar The Economic City initiates a $2.32B restructuring plan with debt-to-share conversion & new funding, aligning with Saudi Vision 2030.

Emaar The Economic City (EEC) of Saudi Arabia is initiating an SR8.7 billion ($2.32 billion) restructuring plan to improve its financial standing and align with Saudi Vision 2030. The strategy includes converting SR4 billion of debt into share capital, securing a new SR1 billion facility from the Public Investment Fund (PIF), and consolidating existing debts. These measures aim to enhance growth prospects and stabilize EEC's operations, particularly in the King Abdullah Economic City project.

September 09, 2024
5 Articles