Riyadh – Mubasher: Saudi Paper Manufacturing Company has signed an agreement to reschedule a SAR 26.5 million loan from the National Commercial Bank (NCB).

The original facility had a value of SAR 30.5 million and a repayment period of one year starting from 1 February 2018 until 28 February 2019, according to the company’s recent filing to the Saudi Stock Exchange (Tadawul).

The new financing period will be three years including a grass period of six months, where the first installment should be paid by 30 September, while the last one will be paid on 31 March 2022.

Saudi Paper noted that the deal is guaranteed by a promissory note.