MESC renews credit facility deal with Al Rajhi Bank

17/07/2025 Argaam
Logo ofMiddle East Specialized Cables Co. (MESC)

Logo of Middle East Specialized Cables Co. (MESC)

Middle East Specialized Cables Co. (MESC) renewed a Shariah-compliant credit facility agreement with Al Rajhi Bank worth SAR 150 million.

 

The tenor of the facility extends till June 30, 2026, said the company in a Tadawul filing today, July 17, adding that a promissory note valued at SAR 153.7 million was provided as collateral, along with an assignment of insurance proceeds.

 

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MESC also indicated that the credit facility is aimed at financing its working capital and issuance of different types of bank guarantees.

 

According to the company, the agreement is dated on June 30, 2025, while the effective date of the facility took a place on July 17, 2025. The renewed facility has been increased from the previous one by SAR 50 million.

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