“Paper Industry” signs a credit facility agreement worth $40 million
The Saudi Paper Manufacturing Company signed "Paper industry"Yesterday, a credit facility agreement was signed with Kuwait Finance House (Bahrain).
According to the company’s statement on the website "Saudi Arabia trading" The agreement included facilities allocated to finance working capital and medium-term facilities in the amount of $40 million.
She added that the financing period: working capital facilities: 12 months, renewable, and medium-term facilities: 48 months, including a 6-month grace period.
She indicated that the guarantees provided in exchange for financing: a promissory note for the value of the credit facility agreement.
She explained that the goal of the financing: Supporting the cash liquidity required to cover working capital for operational operations in line with the company’s strategy, future plans, and expansions in purchasing raw materials, in addition to restructuring medium-term debt to improve the company’s cash flows.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
