MEPCO renews revolving facility with Bank Albilad

10/10/2019 Argaam

 

Middle East Paper Co. (MEPCO) has renewed its SAR 200 million Sharia-compliant facility agreement with Bank Albilad, the company said in a bourse filing on Thursday.

 

The revolving facility is renewable on July 11 every year, and is secured by a promissory note equivalent to the facility value in favor of the bank.

 

The facility will go for financing the working capital and fulfilling other business requirements.

 

No related parties are involved in the agreement, the statement added.

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