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Professional Medical Expertise Company, also Trading as (“ProMedEx”) announces Obtaining a Renewal of the Islamic Facilities Agreement Offered by Banque Saudi Fransi
| Element List | Explanation |
|---|---|
| Introduction | Professional Medical Expertise Company (ProMedEx) announces the renewal and increase of its Islamic financing agreement with Banque Saudi Fransi, with a total value of SAR 108,000,000 (one hundred and eight million Saudi Riyals), as follows: SAR 70,000,000 multi-Purpose facility limit, encompassing bank guarantees, letters of credit, and Murabaha financing for project invoice payments. SAR 28,000,000 Documentary credit facility for bank guarantees. SAR 10,000,000 multi-purpose financing limit (currency options, forward purchase and sale of foreign currencies, and/or interest rate swaps). The company aims to use these facilities to finance existing projects and support its business expansion plans. |
| Date of obtaining the funding | 2026-04-23 Corresponding to 1447-11-06 |
| Financing entity | Banque Saudi Fransi |
| Financing amount. | SAR 108,000,000 (one hundred and eight million Saudi Riyals) |
| Financing duration. | One year from the date of the facility document, expiring on 31.03.2027 AD |
| Guarantees offered for the financing | Promissory note from Professional Medical Expertise Company. Promissory note from Alomran Holding Company |
| Financing objective | The financing is intended to fund the company’s existing projects and support the expansion of its business operations. |
| Related Parties | There are no related parties |
| Additional Information | The agreement is dated 10 March 2026; however, the signatures were completed and the facilities were activated on 23rd of April 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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