SPIMACO secures SAR 300 mln credit facility from BSF

14/06/2023 Argaam

SPIMACO secures SAR 300 mln credit facility from BSF

Logo of Saudi Pharmaceutical Industries and Medical Appliances Corp.

Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO) signed today, June 14, a Shariah-compliant credit facility agreement worth SAR 300 million with Banque Saudi Fransi (BSF), according to a Tadawul filing.

 

The long-term facilities have a five-year term and are guaranteed by a promissory note. 

 

The fund will be utilized for balance sheet restructuring, the statement said, noting that there are no related parties to the deal.  

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