| 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. |