Fesh Fash secures SAR 4.7M loan from SIDF

16/09/2024 Argaam
Logo ofFesh Fash Snack Food Production Co.

Logo of Fesh Fash Snack Food Production Co.

Fesh Fash Snack Food Production Co. secured, on Sept. 11, a SAR 4.7 million loan from the Saudi Industrial Development Fund (SIDF), according to a Tadawul filing today, Sept. 16.

 

The loan, approved today under a commitment letter, will finance 50% of a SAR 9.68 million internal development project for Fesh Fash’s production lines, machinery, and buildings.

 

For more news on listed companies

 

This is provided that the relevant procedures are completed, and the loan deal is signed to start work on the project, the statement added.

 

The loan will be repaid over eight years, ending Aug. 15, 2032, including a two-year grace period.

 

The company confirmed that the project's fixed assets are mortgaged in collateral for the financing.

 

There are no related parties to the deal, Fesh Fash noted.

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