UCIC renews SAR 140M banking facilities with SAB

United Carton Industries Co. (UCIC) signed an offer letter to renew Shariah-compliant banking facilities with Saudi Awwal Bank (SAB) worth SAR 140 million.

In a statement to Tadawul, the company said it secured the financing on July 16 for a one-year term ending on July 15, 2026. The financing is backed by a promissory note worth SAR 140 million in favor of the bank.

UCIC added that the funds will be used to cover working capital needs, including issuing letters of credit, guarantees, and collection documents.

There are no related parties to the deal, the statement added.