Saudi Paper secures SAR 85M credit facility from Riyad Bank

28/12/2023 Argaam

Saudi Paper secures SAR 85M credit facility from Riyad Bank

Logo of Saudi Paper Manufacturing Co. 

Saudi Paper Manufacturing Co. signed today, Dec. 28, an agreement with Riyad Bank for a Shariah-compliant credit facility worth SAR 85 million.

 

The three-year financing aims to increase the company's cash liquidity to effectively cover working capital needs for its operations in alignment with its strategy and future plans, according to a statement to Tadawul.

 

The facility is guaranteed by the company's promissory note, the statement added.

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