SPIMACO obtains SAR 220M credit facilities from Alinma Bank

25/12/2024 Argaam
Logo ofSaudi Pharmaceutical Industries and Medical Appliances Corp.(SPIMACO)

Logo of Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) 

Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) inked a Shariah-compliant credit facility agreement with Alinma Bank for SAR 220 million, according to a statement to Tadawul.
 
 
The agreement includes a short-term, one-year facility at SAR 20 million, and medium-term, five-year facility at SAR 200 million.
 

These facilities were guaranteed by a promissory note and will be directed to finance the requirements of the company’s working capital.

 

The deal included no related parties, the statement added.

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