Avalon Pharma obtains SAR 70M credit facilities from Emirates NBD

09/07/2024 Argaam
Logo ofMiddle East Pharmaceutical Industries Co. (Avalon Pharma)

Logo of Middle East Pharmaceutical Industries Co. (Avalon Pharma)

Middle East Pharmaceutical Industries Co.  (Avalon Pharma) secured SAR 70 million Shariah-compliant credit facilities from Emirates NBD to finance its operations, according to a statement to Tadawul.

 

The facilities’ tenor will extend for one year. A promissory note for the full value will be provided as guarentee.

 

For more news on listed companies

 

The deal has no related parties, the statement added.

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