Specialized Medical Company (SMC Healthcare) Announces the Signing of an Islamic Credit Facility Agreement
| Element List | Explanation |
|---|---|
| Introduction | Specialized Medical Company (“SMC Healthcare”, “SMC”) is pleased to announce that SMC has signed a credit Facility agreement at competitive terms and conditions with Saudi Awwal Bank (“SAB”), compliant with Islamic Sharia.
The agreement includes a long-term facility amounting to SAR 800 million, in addition to a short-term working capital facility amounting to SAR 300 million. |
| Date of obtaining the funding | 2025-10-15 Corresponding to 1447-04-23 |
| Financing entity | Saudi Awwal Bank (“SAB”) |
| Financing amount. | 1,100,000,000 SAR as follows:
- New long-term facilities for the amount of SAR 800,000,000 - Renewal of short-term facilities for the amount of SAR 300,000,000 |
| Financing duration. | 1: Long-term facilities: 144 months
2: Short-term facilities: 8 months |
| Guarantees offered for the financing | Against Corporate Promissory Note and the Mortgage of the land on which the project will be built. |
| Financing objective | The long-term facilities will be used to Finance the construction of a new hospital project (SMC 4) in Riyadh, Prince Faisal Bin Bandar Road – Khuzam Suburb. The short-term loan will be used for any working capital requirements of the company. |
| Related Parties | NA |
| Additional Information | NA |
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