Middle East Paper Company (MEPCO) on Monday renewed and amended a Shariah-compliant bank facility agreement with Samba Financial Group.
The agreement was amended by increasing the facility value from SAR 50 million to SAR 100 million.
The revolving credit facility agreement is renewable every year on June 30, 2020, the company said in a bourse statement.
The amount is intended to finance the company’s working capital and to meet other business requirements.
No related parties are involved on these agreements, the statements added.
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