Riyadh – Mubasher: Filling and Packing Materials Manufacturing Company (FIPCO) has penned a credit facility agreement valued at SAR 50 million with Al Rajhi Bank.

FIPCO will use the short-term revolving facility to finance working capital, according to a bourse statement.

The deal holds a tenor of 12 months from the date of signing, ending on 30 November 2025.

The loan is secured by a promissory covering the whole value of the credit facility.

Earlier this month, Ahmed Abdullattif Albarrak was announced as the company’s Chairman of the board for a new term, which began on 1 January 2025 and will assume his role until 31 December 2028.

Faisal Muhammad Alharbi was named the Vice Chairman and Managing Director.