Saudi Pharmaceutical Industries and Medical Appliances Corp. (SPIMACO ADDWAIEH) announced the signing of a Sharia compliant credit facility agreement with SABB Bank amounting to SAR 650 million. Financing amount: The total value of the credit facilities amounts to SAR 650 million, and consists of: Renewal of short-term facilities for the amount of SAR 150 million.

New Long-term facilities for the amount of SAR 500 million. Financing duration: Short-term facilities for one year. Long-term facilities for 8-10 years including a 2-years grace period.

Guarantees offered for the financing: Promissory note with a value of SAR 650 million. Financing objective: Short-term facilities for the purpose of financing working capital requirements. Long-term facilities for the purpose of financing future expansions and investments.