Middle East Healthcare Co. announces obtaining of amended Islamic financing agreement with Samba Financial Group
Middle East Healthcare Co. announces obtaining of amended Islamic financing agreement with Samba Financial Group
| Introduction |
Introduction
Middle East Healthcare Company (Saudi German Hospitals) announces the signing of amended Islamic financing agreement with Samba Financial Group by increasing the working capital facilities from SAR 35 million to SAR 150 million with the same terms and conditions. |
|---|---|
| Date of receiving Credit Facility | 2018-12-17 Corresponding to 1440-04-10 |
| Creditor | Samba Financial Group |
| Credit Facility value | SAR 150 million after this addition of SAR 115 million |
| Credit Facility duration | Revolving Facility renewable every year |
| Guarantees provided for credit facility | Promissory Note from the Company (equivalent to facility amount) in favour of the bank |
| Reason for Credit Facility | To finance the Company’s working capital and other business requirements. |
| Related Parties | No related parties on this agreement |
| Additional Information | None |
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