<p>Argan SA has signed a €500 million bridge-to-bond loan agreement with a banking pool led by J.P. Morgan, alongside Crédit Agricole CIB, BNP Paribas, and Société Générale. This short-term credit facility is designed to support Argan’s upcoming bond refinancing, scheduled for 2026, for bonds originally issued in 2021 and maturing in November 2026. The loan has an initial duration of 12 months starting November 17, 2025, with options for two six-month extensions at Argan’s discretion. The agreement includes covenants such as maintaining a consolidated LTV ratio below 65%, a secured LTV ratio below 45%, an ICR ratio of at least 1.80, and a portfolio value above €2 billion. As of June 30, 2025, Argan’s financial indicators exceed these requirements, reflecting the company’s strong financial position. Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Argan SA published the original content used to generate this news brief via GlobeNewswire (Ref. ID: GNW1001139338-en) on November 18, 2025, and is solely responsible for the information contained therein. © Copyright 2025 - Public Technologies (PUBT)</p>

<p>Argan SA has secured a €500 million bridge loan led by J.P. Morgan to refinance bonds maturing in 2026. The loan, starting November 2025, includes covenants on LTV ratios, ICR, and portfolio value, reflecting Argan's strong financial position.</p>

Argan SA Secures €500 Million Bridge Loan Led by J.P. Morgan for 2026 Bond Refinancing