Middle East Healthcare Company (Saudi German Hospitals) announces the signing of Islamic Financing agreement with AlBilad Bank
Middle East Healthcare Company (Saudi German Hospitals) announces the signing of Islamic Financing agreement with AlBilad Bank
| Introduction |
Introduction
Middle East Healthcare Co. announces the signing of Islamic Financing agreement with AlBilad Bank as following |
|---|---|
| Date of Receiving the Credit Facility | 2019-10-09 Corresponding to 1441-02-10 |
| Financier | AlBilad Bank |
| Credit Facility value | SAR 200 Million |
| Credit Facility duration | The agreement availability is up to 24/09/2020 |
| Guarantees Provided for Credit Facility | Promissory note from the company |
| Purpose of the Credit Facility | - SR 100 Million to finance Working Capital - SR 100 Million to finance purchasing of operating equipment construction. |
| Related Parties | No related parties on this agreement |
| Additional Information | - Finance agreement was signed on 09/10/2019 - Working capital financing is repayable in one installment after 9 months from the date of use - The financing of the purchase of operational equipment is repayable in quarterly installments over five years, with a grace period of 12 months |
Book Now