Saudi Cable secures SAR 107.9M loan

Saudi Cable secured an interest-free loan from Ibrahim Al-Rajhi

Saudi Cable Co. said it secured an interest-free loan of SAR 107.94 million from Ibrahim Al-Rajhi in multiple tranches: SAR 55.43 million on Dec. 18, 2025, SAR 2.60 million on Dec. 24, and SAR 49.91 million on Dec. 29.

The company said the loan, obtained on Dec. 29, 2025, 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.

Saudi Cable added that if any installment is not paid within three days of its due date, the remaining balance will become immediately payable. Promissory notes covering the full loan amount have been provided as collateral.

The company noted that non-executive board member Turki Al-Rajhi is a related party, and that the loan agreement will be presented for shareholder approval at the general meeting.

Saudi Cable said the financing is intended to settle claims of small creditors and current or former employees listed in the claims schedule issued by the Fourth Circuit in Jeddah Commercial Court. The remaining claims under the Commercial Court decision total SAR 468.01 million, excluding Zakat, Tax, and Customs Authority (ZATCA) claims, which have been rescheduled.

According to Argaam data, Saudi Cable received ZATCA approval in December for an installment plan covering Zakat dues and filings from 2012 through 2023, totaling SAR 155.46 million.