Logo ofProfessional Medical Expertise Co. (ProMedEx)
Professional Medical Expertise Co. (ProMedEx) signed, on Oct. 13, a Shariah-compliant financing agreement from Riyadh Bank worth SAR 74.5 million. 
In a statement to Tadawul, the company said that the amount includes SAR 6.5 million as Letter of Guarantees, SAR 22.5 million as Letter of Credits and SAR 45 million as Tawarruq – Goods Purchase.
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The financing period is one year, and the amount is intended to finance existing projects and business expansions, the statement added.
The amount is covered by a promissory from ProMeEx and a promissory from Al Omran Holding.
No related parties are included.
The credit facility agreement document is dated Sept. 8, 2024, but the signing of the agreement was completed on Oct. 13, 2024, the company noted.
Logo ofProfessional Medical Expertise Co. (ProMedEx)
Professional Medical Expertise Co. (ProMedEx) signed, on Oct. 13, a Shariah-compliant financing agreement from Riyadh Bank worth SAR 74.5 million.
In a statement to Tadawul, the company said that the amount includes SAR 6.5 million as Letter of Guarantees, SAR 22.5 million as Letter of Credits and SAR 45 million as Tawarruq – Goods Purchase.
For more news on listed companies
The financing period is one year, and the amount is intended to finance existing projects and business expansions, the statement added.
The amount is covered by a promissory from ProMeEx and a promissory from Al Omran Holding.
No related parties are included.
The credit facility agreement document is dated Sept. 8, 2024, but the signing of the agreement was completed on Oct. 13, 2024, the company noted.
