The Saudi Company for Pharmaceutical Industries and Medical Appliances announces the signing of a credit facility agreement with Gulf International Bank.
- Date: 29-Aug-2022
- Source: Mubasher
- Sector:Industrial
- Country:Saudi Arabia
The Saudi Company for Pharmaceutical Industries and Medical Appliances announces the signing of a credit facility agreement with Gulf International Bank.
|Element List||Explanation|
|Introduction||Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO ADDWAIEH) announces the signing of a credit facility agreement with Gulf International Bank amounting to 485 million SAR.|
|Date of obtaining the funding||2022-08-28 Corresponding to 1444-02-01|
|Financing entity||Gulf International Bank|
|Financing amount.|| The total value of the credit facilities is 485 million SAR (Sharia compliant) followings:
|
- Short-term facilities is (200 million SAR).
- Long-term facilities is (250 million SAR).
- Treasury Facility is (35 million SAR).
|Financing duration.|| - Short-term facilities for one year (revolving loan on demand).
|
-Long-term facilities for 6 years including 2 years grace period.
|Guarantees offered for the financing||Promissory note|
|Financing objective|| -Short-term facilities for the purpose of financing working capital requirements.
|
-Long-term facilities for the purpose of financing future expansions and investments.
|Related Parties||No more|
|Additional Information||No more|