ProMedEx Obtains $6.6mlnm Loan From Al Rajhi Bank

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.