Almoosa secures SAR 650M credit facility from BSF

Almoosa Health Co. signed, on Aug. 21, a Shariah-compliant credit facility agreement with Banque Saudi Fransi (BSF) at a total value of SAR 650 million.

The facility will extend over a period of seven years, and will be guaranteed by a promissory note, the company said in a statement to Tadawul.

The funds will be utilized to support the company’s expansion and growth plans.

The credit facility is in compliance with Shariah principles, consistent with all previous facilities obtained by the company.

There are no related parties involved in the deal, the statement added.