Dallah to get SAR 955.5 million sharia-compliant loan from Saudi British Bank

24/07/2014 Argaam

Dallah Healthcare Holding Co. signed an agreement on July 24 with Saudi British Bank to get a SAR 955.5 million sharia-compliant loan to finance construction of new medical facilities and hospitals against a promissory note, the company said in a statement to the Saudi bourse, Tadawul.

 

Under the 6 and half year- financial agreement, Dallah, will have a grace period of 37 months.

 

The loan facility includes Tawarruq Metal murabaha ( an Islamic financial instrument in which a buyer purchases an item from a bank on a deferred payment plan, then sells it immediately.), bridge loan and structured hedging.  

 

Dallah, which operates, manages and maintains  health complexes, has currently a SAR 45 million loan agreement with SABB.

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