Arabi Holding Group announced in a statement to the stock exchange today, Thursday, that its subsidiary, Arabi EnerTech Company, which is 79.80% owned, has amended the guarantees related to one of its existing credit facility agreements, valued at KWD 1,419,000 (Kuwaiti Dinars One Million Four Hundred Nineteen Thousand Only).

According to the statement, the original registered mortgage has been replaced with an alternative guarantee in the form of a deposit worth KWD 1,420,000 (Kuwaiti Dinars One Million Four Hundred Twenty Thousand Only). The agreement is set to expire on August 15, 2027.

The company also stated that it is, through its subsidiary, in ongoing negotiations with the financing party to renew another credit facility valued at KWD 9,222,000 (Kuwaiti Dinars Nine Million Two Hundred Twenty-Two Thousand Only), which expired on March 21, 2025.

The financial impact of this, according to the company, is reflected in penalties incurred for the delay in renewing the agreement, amounting to approximately KWD 371,091 (Kuwaiti Dinars Three Hundred Seventy-One Thousand Ninety-One Only), which was borne by the subsidiary.