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Professional Medical Expertise Company, also trading as (ProMedEx), announces the renewal and increase of Sharia-compliant credit facilities provided by Saudi Awwal Bank
| Element List | Explanation |
|---|---|
| Introduction | Professional Medical Expertise Company (ProMedEx) announces the renewal and increase of the aggregate limit of its Shariah-compliant credit facilities granted by Saudi Awwal Bank, pursuant to the Facilities Renewal Offer Letter dated 30 June 2026. The aggregate facility limit has been increased from SAR 45,000,000 to SAR 60,000,000, representing an increase of SAR 15,000,000, equivalent to 33.33% of the previous limit. The facilities will be used to finance the purchase of goods locally or through imports, finance the Company’s obligations relating to letters of credit and import bills, and issue bank guarantees and standby letters of credit. |
| Date of obtaining the funding | 2026-07-27 Corresponding to 1448-02-13 |
| Financing entity | Saudi Awwal Bank |
| Financing amount. | SAR 60,000,000 |
| Financing duration. | One year from the date of the Facility Offer Letter |
| Guarantees offered for the financing | A promissory note for SAR 60,000,000.00 |
| Financing objective | The financing is intended to fund the company’s existing projects and support the expansion of its business operations. |
| Related Parties | None |
| Additional Information | The credit facility agreement renewal documents are dated 30 - 06 - 2026, and the signing of the agreement was completed on Monday, 27- 07- 2026. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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