Introduction Filling and Packing Materials MFG. Co. (FIPCO) announces of renewal banking facility agreement (Shariah-compliant) with Bank Albilad as follows:
Date of obtaining the funding 2021-04-12 Corresponding to 1442-08-30
Financing entity Bank Albilad
Financing amount. SR 30 Million
Financing duration. starting from Mar. 28, 2021 and ends in Aug. 18, 2022
Guarantees offered for the financing The facility is secured by a promissory note in favor of Bank Albilad
Financing objective The purpose of this facility is to finance the working capital for FIPCO and its subsidiary (FPC)
Related Parties No related Parties involved in this agreement.
Additional Information The final approved agreement was obtained on 12/04/2021.