MEPCO secures $90.64m loan from Bank Albilad

MEPCO secures $90.64m loan from Bank Albilad
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Updated 07 September 2021

MEPCO secures $90.64m loan from Bank Albilad

MEPCO secures $90.64m loan from Bank Albilad

RIYADH: The Middle East Paper Co. signed a Shariah-compliant credit facility agreement worth SR340 million ($90.64 million) with Bank Albilad to finance the establishment of a tissue factory.

The facility consists of a seven-year medium-term loan worth SR136 million and a short-term loan valued at SR204 million with a two-year maturity period, MEPCO said in a bourse statement on Monday.