Equipment House renews SAR 190M credit facilities with SAIB

Logo of Scientific & Medical Equipment House Co.

Scientific & Medical Equipment House Co. (Equipment House) renewed a Sharia-compliant credit facility agreement worth SAR 190 million with The Saudi Investment Bank (SAIB).

In a statement to Tadawul, the company added that the agreement was signed and a copy was received on Tuesday, Nov. 19. The facility term extends till June 30, 202

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She said that the guarantees provided for the financing consist of waiving the proceeds of the contracts in addition to promissory notes worth 190 million riyals.

According to the company, the guarantees offered for the financing are represented in assignment of contract proceeds and promissory notes worth SAR 190 million.

The facilities will be used to finance current and future projects, bank guarantees, and letters of credit.

There are no related parties to the agreement, the statement noted.