The Saudi Company for Pharmaceutical Industries and Medical Appliances announces the signing of a credit facility agreement with Gulf International Bank.
| Element List | Explanation |
|---|---|
| Introduction | Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO ADDWAIEH) announces the signing of a credit facility agreement with Gulf International Bank amounting to 485 million SAR. |
| Date of obtaining the funding | 2022-08-28 Corresponding to 1444-02-01 |
| Financing entity | Gulf International Bank |
| Financing amount. | The total value of the credit facilities is 485 million SAR (Sharia compliant) followings:
- Short-term facilities is (200 million SAR). - Long-term facilities is (250 million SAR). - Treasury Facility is (35 million SAR). |
| Financing duration. | - Short-term facilities for one year (revolving loan on demand).
-Long-term facilities for 6 years including 2 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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