The Saudi Paper Manufacturing Company announces obtaining a first installment of the loan granted by the Saudi Industrial Development Fund
| Element List | Explanation |
|---|---|
| Introduction | The Saudi Paper Manufacturing Company announces that it has received a first installment of the loan granted by the Saudi Industrial Development Fund in the amount of: 47,523,825.39 Saudi riyals, out of the financing value: 104,900,000 Saudi riyals, to finance the fifth production line project |
| Date of obtaining the funding | 2024-12-05 Corresponding to 1446-06-04 |
| Financing entity | The Saudi Industrial Development Fund (SIDF) |
| Financing amount. | 104,900,000 SR |
| Financing duration. | 8 years with a grace period of two and a half years |
| Guarantees offered for the financing | 1- Promissory notes for the full financing value
2- A mortgage bond for all the company’s assets |
| Financing objective | Using the full amount to repay long-term loans, which reflects the company’s commitment to achieving financial sustainability, strengthening the financial position and reducing financing expenses |
| Related Parties | Nothing |
Comments