Saudi Cable repays first tranche of Al-Rajhi loan worth SAR 44.08M

10:02 AM (Mecca time) Argaam
Logo ofSaudi Cable Co.

Logo of Saudi Cable Co.

Saudi Cable Co. repaid the first tranche of an interest-free loan provided by Ibrahim Al-Rajhi on March 11, amounting to SAR 44.08 million.

 

In a statement to Tadawul, the company said the remaining amount of the first installment, totaling SAR 921,740, will be added to the value of the outstanding installments.

 

Saudi Cable added that there are currently no additional costs related to the repayment, noting that any financial impact will be disclosed at a later stage, if applicable.

 

According to Argaam data, Saudi Cable said in January that the interest-free loan, valued at SAR 107.94 million and obtained from Ibrahim Al-Rajhi, had been rescheduled, with the first installment due by the end of March.

 

The schedule for the remaining installments, totaling SAR 62.94 million, will be determined at a later date.

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