Equipment House renews SAR 190M credit facility with SAIB

04:51 PM (Mecca time) Argaam
Equipment House says a copy of the signed agreement renewal was received today, Dec. 17

Equipment House says a copy of the signed agreement renewal was received today, Dec. 17

Scientific and Medical Equipment House Co. (Equipment House) renewed today, Dec. 17, a Shariah-compliant credit facilities agreement worth SAR 190 million with The Saudi Investment Bank (SAIB).

 

In a statement to Tadawul, the company said the agreement was signed, and a copy was received today, Dec. 17.

 

The financing is planned to go towards financing current and future projects, bank guarantees, and letters of credit.

 

The amount is covered by the assignment of contract proceeds, in addition to a promissory note valued at SAR 190 million, the statement added.

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