“Paper Industry” receives a first payment from the “Industrial Development” loan

Last Thursday, the Saudi Paper Manufacturing Company obtained a first installment of the loan granted by the Saudi Industrial Development Fund, amounting to: 47,523,825.39 riyals, out of the financing value: 104,900,000 riyals, to finance the fifth production line project.
The company said in a statement on the Saudi Tadawul: The financing period is 8 years, with a grace period of two and a half years.
She added that the guarantees provided in exchange for financing: promissory notes for the full value of the financing, and a mortgage bond for the entire assets of the company.
She stated that the aim of the financing is to use the full amount to repay long-term loans, which reflects the company’s commitment to achieving financial sustainability, strengthening the financial position and reducing financing expenses.