Riyadh – Mubasher: Saudi Paper Manufacturing Company (SPM) has signed a sharia-compliant credit facility with Saudi British Bank (SABB) in order to reschedule an existing credit facility to manage the cash flow.

The company plans to reschedule around SAR 12.5 million, according to SPM’s filing to the Saudi Stock Exchange (Tadawul) on Monday.  

Earlier, the Saudi firm inked a Murabaha finance deal with SABB valued at SAR 39 million.

The duration of the previous credit facility was three years and six months, while the duration of the credit facility following the rescheduling will be one year.