MESC amends debt-restructuring agreement with banks

30/07/2019 Argaam

 

Middle East Specialized Cables Co. (MESC) has amended today a debt-rescheduling agreement with a consortium of banks that includes SABB, ANB, Banque Saudi Fransi and Riyad Bank, the company said in a bourse filing.

 

Under the agreement, the tenure of the SAR 268.9 million credit facility will be extended to Sept. 30, 2019, instead of July 31, 2019. 

 

The facility started on Oct. 31, 2018, and has no related parties.

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