Filling and packing materials MFG. Co. (FIPCO) announces signing of an Islamic credit facilities agreement with Bank Albilad with the purpose of obtaining a revolving short term loan as follows:
1- Loan was signed on Sep. 16, 2018.
2- Loan amount of SAR 30 Million.
3- Loan availability period started from Sep. 16, 2018 to Sep. 15, 2019.
4- Loan is secured by promissory note at the benefit of Bank Albilad.
5- The reason lies behind obtaining this loan is to finance the working capital for FIPCO and its subsidiary.
6- No related parties will be involved.
FIPCO assures that any material developments in this regard will be announced in due course.
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