Fakeeh Care inks SAR 938M credit facility deal with Alinma Bank

Logo of Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care)

Dr. Soliman Abdel Kader Fakeeh Hospital Co. (Fakeeh Care) signed, on June 23, a Shariah-compliant credit facility agreement at competitive terms and conditions with Alinma Bank, according to a statement to Tadawul.

The total credit amount of SAR 938 million is split between SAR 638 million in long-term facilities, and SAR 300 million in short-term facilities.

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Covered by a promissory note, the facility is intended to finance Fakeeh Care’s expansions and growth plans, the statement added.

This facility replaces previously existing facilities of SAR 838 million for Dr. Soliman Fakeeh Hospital (DSFH), and SAR 570 million for DSFH Riyadh.

This credit facility agreement will be available to all Fakeeh Care Group entities and will support the group's expansion and growth plans.

No related parties are included in the deal, the statement noted.