| Element List |
Explanation |
| Introduction |
Filling and Packing Materials MFG. Co. (FIPCO) announces of renewal banking facility agreement (Shariah-compliant) with Bank Albilad as follows: |
| Date of Receiving the Credit Facility |
2020-04-27 Corresponding to 1441-09-04 |
| Financier |
Bank Albilad |
| Credit Facility value |
SR 30 Million |
| Credit Facility duration |
one year starting from Mar. 25, 2020 and ends in Mar. 25, 2021 |
| Guarantees Provided for Credit Facility |
The facility is secured by a promissory note in favor of Bank Albilad |
| Purpose of the Credit Facility |
The purpose of this facility is to finance the working capital for FIPCO and its subsidiary (FPC Industries Co.) |
| Related Parties |
No related Parties involved in this agreement. |
| Additional Information |
The final approved agreement was obtained on 27/04/2020. |
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