Equipment House extends SAR 120M ANB facility to 2027

Scientific & Medical Equipment House Co. renewed a Shariah-compliant credit facility worth SAR 120 million with Arab National Bank. The agreement was signed Tuesday, the company said in a Tadawul statement.

The facility extends to Jan. 31, 2027. Guarantees include an assignment of contract proceeds and promissory notes for the same amount. No related parties are involved, the company said.

Equipment House supplies diagnostic imaging systems, lab equipment, and maintenance services to Saudi hospitals and clinics. The credit line supports working capital for contract deliveries and procurement.

The renewal is a standard working capital extension, not a transformational financing. Equipment House has held similar credit arrangements with ANB for several years, according to previous public filings. The new agreement adds roughly two and a half years to the relationship without changing the total commitment size.

The terms of the facility were not disclosed. There is no immediate change to the company’s leverage or interest cost from the renewal. The extension does remove any near-term refinancing risk on that SAR 120 million portion of debt.

The timing coincides with a period of rising government and private investment in Saudi healthcare. The kingdom’s hospital infrastructure spending is expanding under Vision 2030, with new projects and capacity additions underway. Equipment House’s credit renewal positions it to bid on or deliver against those contracts without a gap in funding.

The statement noted that the company received a copy of the signed agreement. The facility is classified as non-related party debt.