Avalon Pharma obtains SAR 70M credit facilities from Emirates NBD

Middle East Pharmaceutical Industries Co.  (Avalon Pharma) secured SAR 70 million Shariah-compliant credit facilities from Emirates NBD to finance its operations, according to a statement to Tadawul.

The facilities’ tenor will extend for one year. A promissory note for the full value will be provided as guarentee.

The deal has no related parties, the statement added.