Middle East Paper Co. (MEPCO) renewed on Nov. 4, 2020, its SAR 200 million Shariah-compliant facility agreement with Bank Albilad, the company said in a bourse filing on Thursday.
The revolving facility is renewable in August every year, and is secured by a promissory note equivalent to the facility value in favor of the bank.
The facility will go for financing the working capital and capital expansions.
No related parties are involved in the agreement, the statement added.
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