Logo ofMiddle East Pharmaceutical Industries Co. (Avalon Pharma)
Middle East Pharmaceutical Industries Co. (Avalon Pharma) signed a SAR 60 million credit facilities agreement with the Saudi Industrial Development Fund (SIDF) on Nov. 9. 
In a statement on Tadawul, the company said the fixed assets and land of Avalon-2 and the central warehouse, which are already pledged against its existing medium-term financing from SIDF, will also serve as collateral for the new loan.
In addition, the company provided a promissory note equivalent to the financing amount as security.
The two-year facility will run from the date of disbursement and is intended to finance the company’s working capital requirements. The company noted that no related parties are involved.
Logo ofMiddle East Pharmaceutical Industries Co. (Avalon Pharma)
Middle East Pharmaceutical Industries Co. (Avalon Pharma) signed a SAR 60 million credit facilities agreement with the Saudi Industrial Development Fund (SIDF) on Nov. 9.
In a statement on Tadawul, the company said the fixed assets and land of Avalon-2 and the central warehouse, which are already pledged against its existing medium-term financing from SIDF, will also serve as collateral for the new loan.
In addition, the company provided a promissory note equivalent to the financing amount as security.
The two-year facility will run from the date of disbursement and is intended to finance the company’s working capital requirements. The company noted that no related parties are involved.
