Filing and Packing Materials Manufacturing Co. — Capital/Financing Update 2021

Dec 15, 2021

FILLING & PACKING MATERIAL. MFG. CO. (FIPCO) ANNOUNCES SIGNING OF FINANCING AGREEMENT WITH THE SAUDI INDUSTRIAL DEVELOPMENT FUND (SIDF)

2180 · 15/12/2021 15:26:05 · Announcement #65964 · View on Saudi Exchange

FILLING & PACKING MATERIAL. MFG. CO. (FIPCO) ANNOUNCES SIGNING OF FINANCING AGREEMENT WITH THE SAUDI INDUSTRIAL DEVELOPMENT FUND (SIDF)

Element List	Explanation
Introduction	FIPCO is pleased to announce for the distinguished shareholders that it has signed financing agreement with SIDF as follows:
Date of obtaining the funding	2021-12-15 Corresponding to 1443-05-11
Financing entity	THE SAUDI INDUSTRIAL DEVELOPMENT FUND (SIDF)
Financing amount.	SR 15,1 million
Financing duration.	The loan will be repaid in 12 unequal, semi-annual installments, starting from 15/08/1445H, over a period of seven years, as agreed with SIDF.
Guarantees offered for the financing	Plant assets will be mortgaged to SIDF as well as signing of a promissory note at the benefit of SIDF.
Financing objective	Financing an expansion of all products of small, jumbo and valve bags aiming to increase the production capacity (Productivity) and improve the quality levels.
Related Parties	No related Parties involved in this agreement.

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