
Emaar The Economic City agreed to extend the Public Investment Fund loan until 2027, amid movements in European copper and bond markets.
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Emaar The Economic City restructures the shareholder loan with the Public Investment Fund.
Emaar The Economic City announced the Public Investment Fund’s approval to extend the availability period for the shareholder loan amounting to one billion riyals ($266,000), which was scheduled to expire last September, to February 28, 2027.
The company explained, in a disclosure to (Tadawul), that the fund agreed on October 4, 2026 to extend the availability period during which the company can benefit from the loan, from September 18, 2026 to February 28, 2027.
In March 2025, the company concluded a binding agreement with the Fund to amend and reformulate the existing shareholder loan agreement, allowing for a loan of up to one billion riyals ($266,000), after the previous loan of one billion riyals ($266,000) had been fully used.
Under the amended agreement, the loan availability period is 18 months from the date of signing the agreement, while payment is due in one payment after 24 months from the date of signing, and includes the principal amount and commission.
The company provided guarantees for the loan, consisting of real estate mortgages worth no less than 1.5 billion riyals ($400,000), in addition to promissory notes that include the principal amount and commission.
The shareholder loan agreement includes an option for the Public Investment Fund to convert the amounts due under the loan into shares in the company’s capital, after obtaining the approval of the regulatory authorities and the General Assembly.
The shareholder loan aims to cover capital expenditures and project costs, and amending the agreement comes within the company's plan to restructure its financial position.
Copper prices rose slightly on Tuesday, supported by a rise in the US stock market led by the technology sector, in addition to declining market expectations regarding the Federal Reserve Board raising interest rates.
The three-month standard copper price on the London Metal Exchange rose 0.08 percent to $14,431.5 per metric ton by 03:00 GMT.
Euro zone bond yields fell on Tuesday, and the spread between French and German 10-year bond yields narrowed again.

ASEAN energy ministers meet in Manila to discuss energy security and reduce dependence on oil imports from the Middle East, in light of escalating regional tensions and record high prices.

Japan is seeking to conclude a joint Asian agreement to enhance crude oil reserves to confront the energy crises related to the conflict with Iran, coinciding with the Japanese Nikkei index exceeding the level of 70 thousand points and Hong Kong stocks rising.

Japan's Nikkei index surpassed 70,000 points, supported by Wall Street's gains and a decline in oil prices, while Chevron warned of dwindling energy reserves as a result of the war in the Middle East, and stocks rose in Hong Seng, led by technology and pharmaceuticals.

Japanese stocks rose, exceeding 70,000 points for the Nikkei index, benefiting from Wall Street's gains and the decline in oil prices, coinciding with the success of the 10-year government bond auction in allaying debt market concerns, despite continued pressure from spending plans and borrowing costs.

Most Gulf stock markets rose in Tuesday trading, supported by a decline in oil supply concerns and interest expectations, while global oil prices declined due to increased exports and the G7 withdrawal from emergency stocks.

The British construction sector continued to contract for the ninth month in September, recording the slowest pace of decline since January, coinciding with the decline in global oil prices due to strong Middle Eastern exports and the G7 withdrawal from emergency reserves despite security tensions.