Middle East Healthcare Company (Saudi German Hospitals) announces the signing of amended Islamic financing agreement with Samba Financial Group by increasing the working capital facilities from SAR 35 million to SAR 150 million with the same terms and conditions.
Date of receiving Credit Facility
2018-12-17 Corresponding to 1440-04-10
Creditor
Samba Financial Group
Credit Facility value
SAR 150 million after this addition of SAR 115 million
Credit Facility duration
Revolving Facility renewable every year
Guarantees provided for credit facility
Promissory Note from the Company (equivalent to facility amount) in favour of the bank
Reason for Credit Facility
To finance the Company’s working capital and other business requirements.
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