SPIMACO gets SAR 150 mln loan from SIDF to boost exports

27/08/2019 Argaam

 

Saudi Pharmaceutical Industries & Medical Appliances Corporation (SPIMACO) has signed a loan facility agreement at SAR 150 million with the Saudi Industrial Development Fund (SIDF).

 

The pre-shipment finance will be used to bolster the company's exports, the company said in a statement to Tadawul.

 

The 12-month facility, which is valid from the signing date (Aug. 27), is secured by a promissory note and a previous pledge, SPIMACO said, adding that no related parties are involved in the deal.

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