Saudi Cable reschedules SAR 107.9M interest-free loan

Logo of Saudi Cable Co. (SCC)

Saudi Cable Co. (SCC) announced the full rescheduling of the entire amount of the interest-free loan obtained from Ibrahim Al-Rajhi and valued at SAR 107.94 million.

In a statement to Tadawul, Saudi Cable said that the loan rescheduling agreement was signed today, Jan. 25.

The repayment mechanism following the rescheduling will begin with a payment of SAR 45 million due at the end of Q1 2026. While the dates for the remaining payments, totaling SAR 62.94 million, will be determined later and announced accordingly.

The rescheduling was necessary because the first payment was due very soon after the loan was obtained, the company clarified.

It added that the objective is to reduce Q1 2026 obligations and improve working capital, which is expected to have a positive impact on the company’s operational activities.

Additionally, Saudi Cable stated that promissory notes covering the full loan amount have been issued and will take effect following the rescheduling.

The company also noted that Turki Al-Rajhi, a non-executive board member, is a related party, and that the contract will be presented to the general meeting for approval.

According to data available with Argaam, Saudi Cable secured an interest-free loan of SAR 107.94 million from Ibrahim Al-Rajhi.

The company said the loan will mature on March 3, 2026, and will be repaid in installments: SAR 45 million on Jan. 15, 2026, SAR 10.43 million on March 1, and two final payments of SAR 2.60 million and SAR 49.91 million on March 3.