APICO Renews Medium-term Loan Agreement with SAIB

Arabian Plastic Industrial Co. (APICO) announced on Sunday the renewal of the working capital facilities agreement and medium-term bank loans with the Saudi Investment Bank (SAIB) worth 47 million riyals for 12 months.

According to the Company’s statement on Tadawul, the working capital ceiling is 33.5 million riyals available for 12 months, including a sub-limit for the medium-term loan worth 30.15 million riyals, which is repaid in 26 quarterly instalments after 6 months of collecting all loan withdrawals.

In addition to the working capital limit of 22 million riyals, including a sub-limit for the medium-term loan worth 19.8 million riyals, which is repaid in 22 quarterly instalments after 6 months of collecting all loan withdrawals.

The Company noted that the total facilities amount to 102.5 million riyals, and are fully guaranteed by Omar Abu Bakr Balubaid Company, that covers the full bank facilities.