MEPCO renews revolving facility with NBK

15/09/2019 Argaam

 

Middle East Paper Co. (MEPCO) renewed and amended its Shariah-compliant banking facility with National Bank of Kuwait (NBK) on Sunday, it said in a bourse filing.

 

The value of the revolving facility, renewable every year on October 22 2020, stands at SAR 122 million. It will be used to finance the company's working capital and meet other business requirements.

 

The facility is secured by a promissory note. There are no related parties on the agreement, the statement added.

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