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Riyadh – North of Riyadh for Healthcare Company, a subsidiary of Dr. Sulaiman Al Habib Medical Services Group, has inked a long-term Shariah-compliant credit facility agreement worth SAR 2.170 billion with Saudi British Bank (SABB).
The loan term extends over 13 years, including a five-year grace period, according to a stock exchange filing on Thursday.
The credit facility will finance the North of Riyadh Hospital project in the Sahafa District.
The guarantees provided for the credit facility are a promissory note from the company, a corporate guarantee from the parent company, and a mortgage of the project’s land to SABB, the statement added.
Source: Mubasher
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