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Saudi's Fipco Renews Credit Facility Deal with Riyad Bank

MT Newswires·11/02/2026 09:00:07
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09:00 AM EST, 11/02/2026 (MT Newswires) -- Filling & Packing Material Manufacturing Co. (SASE:2180), or Fipco, renewed an Islamic sharia-compliant credit facility agreement with Riyad Bank. The financing facilities total 43.6 million Saudi riyals and have tenors ranging from 12 months to 48 months, the packaging manufacturer said Monday. The facilities will be used to fund the company's working capital requirements and operational activities, including the replacement of certain machinery and equipment. Fipco concluded the agreement with Riyad Bank on Sept. 30 and received the final version of the deal on Monday.