Saudi Paper secures SAR 85M credit facility from Riyad Bank

28/12/2023 Argaam
Logo ofSaudi Paper Manufacturing Co.

Logo of Saudi Paper Manufacturing Co. 

Saudi Paper Manufacturing Co. signed today, Dec. 28, an agreement with Riyad Bank for a Shariah-compliant credit facility worth SAR 85 million.

 

The three-year financing aims to increase the company's cash liquidity to effectively cover working capital needs for its operations in alignment with its strategy and future plans, according to a statement to Tadawul.

 

The facility is guaranteed by the company's promissory note, the statement added.

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