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Saudi Paper to obtain SAR 50m loan

Saudi Paper to obtain SAR 50m loan
The contract's duration period is one year
SPM
2300
-0.70% 56.70 -0.40

Riyadh – Mubasher: Saudi Paper Manufacturing Company received the Ministry of Finance's final approval to obtain additional credit facilities worth SAR 50 million, according to a disclosure to Tadawul on Sunday.

The listed firm has signed a one-year contract under the Facilities for the Corporate Sustainability Support Program, which is provided by the ministry in cooperation with Riyad Bank.

Saudi Paper aims to finance the working capital and raw materials purchase through this contract. This will be carried out by issuing a letter of guarantee and opening letter of credits to meet its obligations, which will be paid on credit.