Dallah Healthcare secures SAR 357.5 mln loan from Ministry of Finance

05/09/2021 Argaam

Logo of Dallah Healthcare

Dallah Healthcare Co. obtained, on Sept. 2, a long-term loan from the Project Support Fund of the Ministry of Finance, worth SAR 357.5 million, it said in a bourse filing.

 

The financing duration is 10 years and will be paid in 16 semi-annual instalments.

 

The loan will help in completing and equipping the clinics building in Dallah Namar Hospital, which will lead to increasing clinics and bed capacity, and reflect positively on its revenues.

 

It will also refinance the construction and equipment of the hospital, which will improve return on capital and cash flows for the company.

 

The financing is guaranteed by two promissory notes to the benefit of Ministry of Finance and a mortgage land deed for Dallah Namar Hospital.

 

There are no related parties to the contract.

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