Riyadh – Mubasher: Saudi Paper Manufacturing Company (SPMC) has signed an agreement with Alinma Bank to reschedule a SAR 48 million existing sharia-compliant credit facility.

The value of the loan originally amounted to SAR 267 million, according to a statement to the Saudi Stock Exchange (Tadawul) on Tuesday.

SPMC further noted that the facility was rescheduled to suit the company’s cash inflows.

The loan has a five-year repayment duration which ends on 19 February 2023, including a one-year grace period.

SPMC also stated that the financing duration of forward sales has been extended to six months instead of three months.