Sulaiman Al Habib Medical Services Group has inked a SAR 1.3 bn Shariah-compliant loan agreement with Al Rajhi Bank, it said in a filing to Tadawul. The company will use the financing to invest in healthcare developments across the country.

What we know: The financing agreement runs for 13 years, and is guaranteed by a promissory note. There are no related parties to the agreement.

Where the funds are going: The funds will be channeled into company projects including Al Hamra Hospital, Women’s Health Hospital, Sehat Al Kharj Hospital, and the Medical Centers affiliated with Al Marakez Al Awaliyah for Healthcare, according to the disclosure.

Tags: