Saudi Paper signs debt-restructuring agreement with Alinma Bank

30/04/2019 Argaam

Saudi Paper Manufacturing Co. has inked a debt-restructuring agreement with Alinma Bank to reschedule an outstanding balance of SAR 48 million from a Sharia-compliant facility agreement worth SAR 267 million, in line with the company’s cash inflows.

 

The facility tenure will last for five years as of Feb. 19, 2019 to Feb. 19, 2023, with a grace period of one year, the company said in a bourse filing.

 

The facility is guaranteed by a promissory note. 

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