Singapore Institute of Advanced Medicine enters into $5 mil loan agreement
The loan will be used to finance the growth of the company’s business.
Singapore Institute of Advanced Medicine Holdings (SAM) has entered into a loan agreement with Caterine Ltd for a principal amount of $5 million to finance the growth of the company’s business.
The maturity date of the loan is three months from the date of the first disbursement, extendable at the company’s request for up to a maximum period of one year.
Interest will accrue at 6.7% per annum, starting from the disbursement date until either the maturity date or the debt is repaid, whichever comes first.
Shares in SAM closed flat on De 20 at 5.5 cents.
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