Avalon Pharma renews bank facilities worth SAR 78M

Avalon Pharma renewed facilities with Banque Saudi Fransi

Middle East Pharmaceutical Industries Co. (Avalon Pharma) renewed, on Sept. 9, a bank facilities agreement worth SAR 78 million with Banque Saudi Fransi (BSF).

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In a statement to Tadawul, the company said that the financing period is one year, and the amount will go towards financing the company’s working capital.

The facilities are covered by two promissory notes worth SAR 78 million.