Ma'aden secures first $1 billion syndicated international loan

Saudi Arabian Mining Company (Ma'aden) announced it has finalized arrangements for its first syndicated international term loan and revolving credit facility, with a total value of $1 billion. The deal received strong support from a consortium of international banks based in the United States, Canada, Europe, China, and Japan.

According to a statement cited by Al Arabiya, the agreement includes a $500 million international term loan to support Ma'aden's strategy, growth plans, and general corporate purposes, including expansion projects across the company's various business sectors.

The deal also features a $500 million revolving credit facility, which is expected to remain undrawn, providing Ma'aden with additional committed financing capacity to support its needs as it continues to implement its growth strategy.

Ma'aden explained that demand for the facilities significantly exceeded the targeted amount, reflecting international banks' confidence in the company's financial strength, strategy, and long-term growth plans.

Chief Executive Officer Bob Wilt said the strong international interest in the facilities demonstrates financial institutions' confidence in Ma'aden and its growth ambitions. He noted that the financing will enhance the company's ability to capitalize on mining opportunities in Saudi Arabia and execute projects that help unlock the Kingdom's mining potential.

According to Ma'aden, the deal comes as the company continues to expand its production lines, implement major projects, and accelerate exploration activities, aiming to strengthen its position as a global mining company and support Saudi Arabia's economic transformation.