Riyadh – Mubasher: Saudi Paper Manufacturing (SPM) Company has signed a sharia-compliant credit facility agreement with Riyad Bank.

The agreement is aimed at rescheduling of a SAR 160 million loan to be suitable to SPM’s financial conditions, according to a bourse statement released on Wednesday.

The loan will be paid in monthly premiums over seven years, the Tadawul-company revealed. 

It is worth highlighting that SPM’s suffered SAR 24.22 million losses during the third quarter of 2019, 35% down from SAR 37.27 million in Q3-18.