Saudi Paper Manufacturing gets SIDF nod on debt restructuring

03/01/2018 Argaam

Saudi Paper Manufacturing Co. (SPM) has received approval from the Saudi Industrial Development Fund (SIDF) to restructure a SAR 37 million industrial loan, for the period from April 20, 2019 to March 7, 2023, the firm said in a statement to Tadawul.

 

The loan, which is guaranteed by equipment and property, will be used to finance capital expenditure as the company looks to develop and expand production capacity.

 

The debt restructuring was based on the company’s available cash flow, the statement said.

 

SPM obtained a 16-month grace period starting from the approval date, as the first installment is due on April 20 next year, it added. 

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