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Middle East Paper Co. ( MEPCO) announces amended and renewal of bank facility agreement (Shariah-compliant) with Saudi British Bank.

MEPCO 1202.B 0.00% 0.00 0.00

Element List Explanation
Introduction Middle East Paper Co. ( MEPCO) announces amended and renewal of bank facility agreement (Shariah-compliant) with Saudi British Bank and Increase the value of facilities from SAR 208 million to SAR 246 million as follows:
Date of receiving Credit Facility 2019-02-21 Corresponding to 1440-06-16
Creditor The Saudi British Bank
Credit Facility value SAR 246 million after the addition of SAR 38 million to the facilities Value.
Credit Facility duration Revolving Facility renewable every year on end of December.
Guarantees provided for credit facility The facility is secured by a promissory note (equivalent to facility value) in favor of the bank.
Reason for Credit Facility -The purpose of this facility is to finance the company's working capital and to meet other business requirements.
Related Parties No related parties on this agreement.
Additional Information None

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