Riyadh - Mubasher: Saudi Paper Manufacturing Company added SAR 105 million in new medium-term financing to its existing credit facility with Gulf International Bank (GIB) on 1 October.

This is in addition to the existing working capital credit facility of SAR 90 million, bringing the total value of the credit facility to SAR 195 million, according to a bourse filing.

Backed by a promissory note, the loan will support working capital, raw material purchases, and debt restructuring.

The agreement covers a 12-month renewable facility and a 54-month medium-term loan, including a six-month grace period.