“UCAC” renews credit facilities worth 195 million riyals with the National Bank
The United Carton Industries Company (UCAC) announced the signing of an agreement to renew banking facilities compatible with the provisions of Islamic Sharia with the National Bank of Saudi Arabia at a value of 195 million riyals.
The company explained in a statement on "Saudi Arabia trading"Today, Tuesday, the financing period extends until July 31, 2026, indicating that the guarantee provided in exchange for the financing is a promissory note in the amount of 195 million riyals in favor of the bank.
The financing aims to finance working capital requirements, including facilitating and issuing documentary credits and documents included in the collection fee.
It is noteworthy that the basic agreement was signed on 05-27-2024, and the signing of the facilities renewal documents was completed by the parties on 01-26-2026.
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