Riyadh – Mubasher: National Medical Care Company (NMC) secured two loans at a combined value of SAR 500 million from Riyad Bank on 16 October 2023, according to a bourse filing.
The Saudi firm highlighted that the facility deal includes a SAR 200 million revolving loan, which is renewed periodically.
Meanwhile, the remaining SAR 300 million amount is a long-term loan that holds a tenor of up to 10 years with a grace period of up to two years.
NMC will use the loans to endorse its working capital in line with its growth strategy to finance acquisitions and expansion plans.
The company pointed out that the facility deal is secured by a promissory note.
Last September, the Tadawul-listed firm obtained a SAR 350 million loan from the Gulf International Bank (GIB).
