Dubai's Saudi German Hospital gets SAR 378 mln Islamic loan

10/09/2017 Argaam

Middle East Healthcare Co. (MEAHCO) has sealed a syndicated facility worth AED 370 million (SAR 377.8 million) with Emirates Islamic, together with Mashreq Bank, Dubai Islamic Bank (DIB) and Arab African International Bank (AAIB) to expand the Saudi German Hospital (SGH) chain in Dubai.

 

Emirates Islamic acted as the coordinating bank as well as investment and security agent, while Mashreq and DIB acted as initial mandated lead arrangers and bookrunners, Emirates Islamic said in a statement Sunday.

 

AAIB was the mandated lead arranger for the loan.       

 

The Sharia-compliant loan will be used for the operation and expansion of the hospital complex, the statement added. 

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