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Riyadh – Middle East Paper Co. (MEPCO) announced the renewal and amendment of a credit facilities deal with Al Rajhi Bank pursuant to the provisions of Islamic Shariah, according to a disclosure to the Saudi Stock Exchange (Tadawul) on Tuesday.
The agreement, dated 18/1/1441 H (17 September 2019), is valued at SAR 150 million, which is SAR 100 million higher than the pre-amended deal.
The financing will be in the form of a revolving loan to be renewed every November of each year.
MEPCO noted that the credit facilities aim to fund the firm’s capital while meeting other businesses’ requirements.
Source: Mubasher
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