Logo ofSaudi Vitrified Clay Pipe Co. (SVCP)
Saudi Vitrified Clay Pipe Co. (SVCP) signed on Oct. 10 an agreement with The Saudi Investment Bank (SAIB) to secure Shariah-compliant credit facilities of SAR 30 million. 
In a statement to Tadawul, the company explained that it obtained a long-term financing of SAR 20 million for 72 months with a grace period of 12 months and a short-term one worth SAR 10 million for six months (a revolving loan on demand).
The facilities were guaranteed by a promissory note, SVCP added, noting that it aims to finance ongoing and future projects, issue bank guarantees and letters of credit and finance working capital.
There are no related parties to the agreement.
Logo ofSaudi Vitrified Clay Pipe Co. (SVCP)
Saudi Vitrified Clay Pipe Co. (SVCP) signed on Oct. 10 an agreement with The Saudi Investment Bank (SAIB) to secure Shariah-compliant credit facilities of SAR 30 million.
In a statement to Tadawul, the company explained that it obtained a long-term financing of SAR 20 million for 72 months with a grace period of 12 months and a short-term one worth SAR 10 million for six months (a revolving loan on demand).
The facilities were guaranteed by a promissory note, SVCP added, noting that it aims to finance ongoing and future projects, issue bank guarantees and letters of credit and finance working capital.
There are no related parties to the agreement.
