Ma'aden Wa'ad Al Shamal Phosphate Company (MWSPC) completed the highest debt prepayment in Saudi Arabian Mining Company's history, reaching SAR 3 billion ahead of schedule. The company is listed as 1211 on the Saudi Exchange.
The early repayment, which accounts for about 7% of Ma'aden's total consolidated debt, is a tactical choice made as part of the company's deleveraging plan in order to lower finance costs.
One of the largest phosphate production complexes in the world, MWSPC (Ma'aden Wa'ad Al Shamal Phosphate Company), is situated north of Saudi Arabia and accounts for 50% of Ma'aden's total phosphate production. In just ten years, Ma'aden's phosphate business has experienced rapid expansion, making it the second-largest exporter of phosphate fertilizer in the world.
This prepayment is in keeping with Ma'aden's recently disclosed strategy for capital allocation, reaffirming the company's dedication to responsible capital management in support of its ambitious vision and expansion objectives.
Ma'aden reiterates its dedication to prudent capital deployment, a cornerstone of its strategy for long-term sustainable growth, as it continues to improve its debt profile.
