Saudi Paper inks $39mln facility agreement with Emirates NBD

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In line with its growth strategy and plans, the listed firm will use the loan to back its cash liquidity

Staff Writer, Mubasher

July 4, 2024

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The Saudi Paper Manufacturing Company obtained a Sharia facility deal worth SAR 150 million from Emirates NBD on 3 July 2024.

In line with its growth strategy and plans, the listed firm will use the loan to back its cash liquidity required to cover working capital for operational operations, according to a bourse disclosure.

Saudi Paper aims to expand its purchasing of raw materials to start the operation of the new production lines.

The one-year agreement is secured by a promissory note for the full value of the loan.

The Saudi company launched a branch for one of its subsidiaries in Dubai in June 2023.

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