Riyadh-Mubasher: Filing and Packing Materials Manufacturing Company (FIPCO) announced the renewal of a Sharia-compliant credit facility agreement with Riyad Bank valued at SAR 43.61 million.
The company finalized the legal procedures and received the signed agreement on 2 November 2026, following the initial arrangement on 30 September.
The financing structure includes multiple tiers, with durations ranging from 12 months for short-term facilities to 48 months for medium-term facilities, depending on the specific financing product utilized.
FIPCO has provided promissory notes in favor of Riyad Bank as a guarantee for the credit, alongside other standard contractual commitments.
According to the regulatory filing, the company intends to utilize the funds to meet working capital requirements and support operational activities. This includes the issuance of letters of credit, letters of guarantee, and short-term facilities.
Additionally, a portion of the financing is earmarked for the replacement of specific machinery and equipment.
FIPCO confirmed that there are no related parties involved in this transaction.
