Saudi Paper amends credit facilities with SAB to SAR 170M

04:45 PM (Mecca time) Argaam
Logo ofSaudi Paper Manufacturing Co. (SPM)

Logo of Saudi Paper Manufacturing Co. (SPM)

Saudi Paper Manufacturing Co. (SPM) amended today, Feb. 26, the credit facilities agreement with the Saudi Awwal Bank (SAB). The agreement has added a new medium-term financing of SAR 70 million to the existing SAR 100 million working capital facility, bringing the total facilities to SAR 170 million.

 

In a statement to Tadawul, the company said the financing will restructure medium-term debt, boost cash flows, strengthen its financial position, and lower financing costs, with the working capital facility set for 12 months, renewable, and the medium-term financing spanning 48 months, including a three-month grace period.

 

Saudi Paper added that a promissory note covering the full value of the credit facilities has been provided as collateral, confirming that there are no related parties to the deal.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.