FIPCO inks SAR 50M credit facility agreement with Al Rajhi Bank

Filling and Packing Materials Manufacturing Co. (FIPCO) signed on Dec. 16, 2024, a Shariah-compliant credit facility agreement with Al Rajhi Bank for SAR 50 million, according to a statement to Tadawul.

The 12-month facility, ending on Nov. 30, 2025, is covered by a promissory note for the value of the agreement.

The product is a short-term revolving facility to finance working capital, the statement noted, adding that there are no related parties to the deal.

The relevant legal procedures and obtaining signatures were completed, and the final version of the agreement was received on Jan. 6, the statement added.