{"url":"https://newsforagent.com/news/2026-11-01/molan-steel-murabaha-installments-rescheduled","markdown_url":"https://newsforagent.com/news/2026-11-01/molan-steel-murabaha-installments-rescheduled.md","title":"Molan Steel Defers SAR 2.05 Million in Murabaha Payments","headline":"Molan Steel Reschedules Two Murabaha Installments to January 2027 Under Sukuk Facility","description":"Molan Steel deferred SAR 2.05 million in Murabaha installments from October 31, 2026 to January 31, 2027, aligning repayments with expected cash flows.","section":"Restructuring","published_at":"2026-11-01T08:46:55+00:00","modified_at":"2026-11-01T08:46:55+00:00","author":"News Desk","key_takeaways":["Molan Steel rescheduled two Murabaha installments totaling SAR 2.05 million from October 31, 2026 to no later than January 31, 2027.","The deferred amount comprises SAR 1.5 million in principal and SAR 554,320 in Murabaha profits under a SAR 10 million facility.","The rescheduling agreement was signed on October 29, 2026, and the financing period ending April 30, 2029 remains unchanged."],"companies":[{"name":"Molan Steel Company","is_primary":true,"profile_url":null,"website":"https://molansteel.com"},{"name":"AFAQ","is_primary":false,"profile_url":"https://akta.pro/company-profiles/0021ncp/afaq","website":"http://www.afaq.ae"}],"source":{"publisher":"Argaam","title":"Molan reschedules two SAR 2.05M Murabaha financing installments","url":"https://www.argaam.com/en/article/articledetail/id/1949005"},"other_sources":[],"tags":["Restructuring","Molan Steel Company","AFAQ"],"body_markdown":"Molan Steel Co. Rescheduled two Murabaha financing installments due October 31, 2026, to no later than January 31, 2027, deferring SAR 2.05 million, [Argaam](https://www.argaam.com/en/article/articledetail/id/1949005) reported. The company said the deferred amount comprises SAR 1.5 million in principal and SAR 554,320 in Murabaha profits, subject to the financier's approval.\n\n## Molan Steel's Murabaha Deferral Terms\n\nIn a statement to Tadawul, [Molan Steel](https://molansteel.com) said the SAR 10 million financing is split into two issuances of SAR 5 million each, dated May 7, 2025, and May 25, 2025. The facility is provided by the company's sukuk holders through the Afaq Capital platform. [Afaq](https://akta.pro/company-profiles/0021ncp/afaq) was appointed in March as sole arranger for a planned SAR 20 million sukuk issuance, according to Argaam.\n\nThe company said the financing period, which runs from each issuance date to the final installment on April 30, 2029, remains unchanged after the rescheduling. The arrangement covers only the two installments due October 31, 2026.\n\nGuarantees for the rescheduled financing consist of a promissory note issued by Molan Steel in favor of the special purpose entity's trustee, covering the full outstanding debt. The company said no additional guarantees were provided for the rescheduling and that there are no related parties to the deal.\n\nMolan Steel said the rescheduling agreement was signed on October 29 to align the repayment schedule with its expected cash flows.\n\n## Molan Steel's Earlier Restructuring Steps\n\nMolan Steel approved a revised plan on October 4, 2026, to address accumulated losses and financial restructuring, replacing an earlier plan, Argaam reported. The plan includes six phases, among them a share consolidation and capital increase, and will be submitted to an extraordinary general meeting.\n\nOn September 30, 2026, Molan Steel signed a payment, reduction and final release agreement with Yara International, receiving a SAR 1.05 million reduction on a SAR 7.88 million settlement balance, Argaam reported. The company also signed an agreement for a SAR 4.6 million interest-free loan from major shareholder Dar Al-Takamul Holding Group, according to Argaam.\n\n## Molan Steel's January 2027 Payment Deadline\n\nThe two rescheduled installments are due for payment no later than January 31, 2027, subject to the financier's approval, the company said.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}