Saudi German Hospital signs SAR 305 mln facility agreement with Al Rajhi Bank

16/09/2020 Argaam

Middle East Healthcare Co. (Saudi German Hospital) inked a Sharia-compliant credit facility agreement with Al Rajhi Bank, at a total value of SAR 305 million, the company said in a bourse filing.

 

The credit facility will include SAR 120 million revolving loans, renewed periodically, and SAR 185 million for a period of 6 years, including a two-year grace period.

 

The facility is guaranteed by a promissory note.

 

The SAR 120 million facility will go towards short-term financing to cover working capital needs, while SAR 185 million facility will be used as medium-term financing for company's digitization transformation.

 

No related parties are involved in the deal, the statement added.

Comments {{getCommentCount()}}

Be the first to comment

{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
{{comment.Replies.length}}
تعديل
loader Train
Report
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Most Read