Company AnnouncementsNomu
Professional Medical Expertise Company, also trading as (ProMedEx), announces the renewal and increase of Sharia-compliant credit facilities provided by Saudi Awwal Bank
9574 | PRO MEDEX
JUL 28, 2026, 06:48 AM (1448/02/14)
2 Min Read
| 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. |
Keywords:Company AnnouncementsPRO MEDEXNomuHealth care Equipment &Svc
