Logo of Saudi Pharmaceutical Industries and Medical Appliances Corp.
Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) signed today, June 14, a Shariah-compliant credit facility agreement worth SAR 300 million with Banque Saudi Fransi (BSF), according to a Tadawul filing.
The long-term facilities have a five-year term and are guaranteed by a promissory note.
The fund will be utilized for balance sheet restructuring, the statement said, noting that there are no related parties to the deal.
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