ProMedEx obtains $6.6mlnm loan from Al Rajhi Bank

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Guarantees offered for the financing include a guarantee pursuant to a fine and solidarity bond declaration

Staff Writer, Mubasher

July 24, 2024

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Professional Medical Expertise Company (ProMedEx) on 23 July 2024 secured a SAR 25 million credit facilities from Al Rajhi Bank to fund existing projects and business expansion.

Guarantees offered for the financing include a guarantee pursuant to a fine and solidarity bond declaration, along with Acknowledgment of a guarantee from Al-Omran Holding Company, and a SAR 27 million promissory note, according to a bourse filing.

The credit facility agreement document is dated on 28 May, and the signing of the agreement was completed on 23 July for a duration of 12 months.

In 2023, ProMedEx obtained a SAR 50 million multi-purpose financing agreement from Banque Saudi Fransi.

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