Twareat renews, amends Al Rajhi Bank facilities to SAR 101M

Twareat Medical Care Co. signed a Shariah-compliant agreement with Al Rajhi Bank to renew and amend its banking facilities.

The agreement includes amending existing transaction documents and increasing the total credit facilities limit to SAR 101 million, along with updated guarantees and financial liabilities.

In a statement to Tadawul, the company said the facilities have been renewed until August 31, 2026 (the annual review date), with drawdowns available in accordance with the terms of each product.

The renewal and amendment aim to align the facilities with the company’s operational and capital requirements.

Twareat stated that the guarantees include a promissory note covering the full value of the facilities plus accrued returns.

The facilities are intended to finance working capital, operating expenses, and capital expenditures. A dedicated financing limit has been allocated to the comprehensive specialized clinics project for the Security Forces in Makkah under the unified contract signed with National Unified Procurement Co. (NUPCO) to supply and equip field hospitals and mobile clinics for the Ministry of Interior.

The company confirmed that all required signatures were completed on today, March 3, , and the documents were delivered to Al Rajhi Bank, with no related parties to the agreement.

According to data compiled by Argaam, Twareat signed a SAR 52.8 million contract with NUPCO early February to supply and equip two fully integrated, high-capacity field hospitals and one fully equipped mobile clinic unit.