SPPC prepays SAR 197mn of a credit agreement

12/06/2013 Argaam

Saudi Printing and Packaging Co.(SPPC) announced yesterday its early prepayment of SAR 197 mln out of SAR 480 mln credit agreement from Alinma Bank in 2012. The loan is used to acquire 100% of Emirates National Factory for Plastic Industries, the company said in a filing to Tadawul.
 

It added this step will reduce the financing expenses by SAR 6.1 mln annually. The relevant impact will reflect on Q2 financial results. 

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