MEPCO renews, ups revolving facilities with Al Rajhi Bank to SAR 150 mln

17/09/2019 Argaam

 

Middle East Paper Co. (MEPCO) has renewed and amended today its previous Shariah compliant facility agreement with Al Rajhi Bank, the company said in a bourse statement.

 

The value of the revolving facilities, renewable by November-end every year, was raised by SAR 100 million to SAR 150 million.

 

The facilities will be used to finance the company's working capital and fulfill other business requirements.

 

The finance is secured by a promissory note, MEPCO said, adding that no related parties are involved in the agreement.

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