The Saudi Company for Pharmaceutical Industries and Medical Appliances announces the signing of a credit facility agreement with Bank Albilad.
Element List | Explanation |
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Introduction | Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO ADDWAIEH) announces the signing of a credit facility agreement with Bank Albilad amounting to 550 million SAR. |
Date of obtaining the funding | 2022-08-28 Corresponding to 1444-02-01 |
Financing entity | Bank Albilad |
Financing amount. | The total value of the credit facilities is 550 million SAR (Sharia compliant) followings:
- Short-term facilities is (200 million SAR). - Long-term facilities is (350 million SAR). |
Financing duration. | - Short-term facilities for one year (revolving loan on demand).
-Long-term facilities for 10 years including 3 years grace period. |
Guarantees offered for the financing | Promissory note |
Financing objective | -Short-term facilities for the purpose of financing working capital requirements.
-Long-term facilities for the purpose of financing future expansions and investments. |
Related Parties | No more |
Additional Information | No more |
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