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National Commercial Bank SJSC : Middle East Paper Co. (MEPCO) announces obtaining of new banking facility (Shariah-compliant) from National Commercial Bank

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05/07/2019 | 04:53 pm

Element List Explanation
Introduction Middle East Paper Co. (MEPCO) announces obtaining of new banking facility (Shariah-compliant) from National Commercial Bank (NCB) as follows:
Date of receiving Credit Facility 2019-05-07 Corresponding to 1440-09-02
Creditor National Commercial Bank
Credit Facility value SAR 169 Million.
Credit Facility duration Revolving Facility renewable every year on 31 of August.
Guarantees provided for credit facility The facility is secured by a promissory note (equivalent to facility value) in favor of the bank.
Reason for 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.
Additional Information None

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