IntroductionFilling and Packing Materials MFG. Co. (FIPCO) announces of renewal banking facility agreement (Shariah-compliant) with Bank Albilad as follows:
Date of obtaining the funding2021-04-12 Corresponding to 1442-08-30
Financing entityBank Albilad
Financing amount.SR 30 Million
Financing duration.starting from Mar. 28, 2021 and ends in Aug. 18, 2022
Guarantees offered for the financingThe facility is secured by a promissory note in favor of Bank Albilad
Financing objectiveThe purpose of this facility is to finance the working capital for FIPCO and its subsidiary (FPC)
Related PartiesNo related Parties involved in this agreement.
Additional InformationThe final approved agreement was obtained on 12/04/2021.