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