Avalon Pharma extends SAR 104m facility agreement with Banque Saudi Fransi

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1050 0.58% 20.90 0.12 AVALON PHARMA
4016 -0.23% 64.15 -0.15

Riyadh – Mubasher: Middle East Pharmaceutical Industries Company (Avalon Pharma) extended a Sharia-compliant banking facility agreement with Banque Saudi Fransi totaling SAR 104 million.

The credit line is specifically designated to fund the company’s working capital requirements.

The financing agreement, which was finalized on 17 September 2026, carries a duration of one year.

As security for the facility, the company has provided promissory notes valued at SAR 104 million.

Avalon Pharma confirmed that there are no related parties involved in this transaction. The renewal of these credit facilities is part of the company's ongoing strategy to maintain liquidity and support its operational activities through established Islamic banking channels.

Last month, Avalon Pharma renewed its SAR 50 million banking facility agreement with Alinma Bank.

Source: Mubasher Source: {{details.article.source}}