Middle East Paper Co. Announces renewal and amendment banking facility agreement (Shariah-compliant) with National Bank of Kuwait (NBK).
|Introduction||Middle East Paper Co. (MEPCO) announces of renewal and amendment banking facility agreement (Shariah-compliant) with National Bank of Kuwait (NBK) as follow:|
|Date of Receiving the Credit Facility||2019-09-15 Corresponding to 1441-01-16|
|Financier||National Bank of Kuwait (NBK).|
|Credit Facility value||SAR 121,802,560 million after decrease 91,412,225 from the previous Facility value|
|Credit Facility duration||Revolving Facility renewable every year on 22/10/2020|
|Guarantees Provided for Credit Facility||The facility is secured by a promissory note (equivalent to facility value) in favor of the bank.|
|Purpose of the Credit Facility||The purpose of this facility is to finance the company's working capital and to meet other business requirements.|
|Related Parties||No related parties on this agreement.|
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