MESC amends debt-restructuring agreement with banks

30/09/2019 Argaam

Middle East Specialized Cables Co. (MESC) has amended today a debt-rescheduling agreement with a consortium of banks that includes SABB, Arab National Bank (ANB), Banque Saudi Fransi (BSF) 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 Oct. 31, 2019, instead of Sep. 30, 2018.

 

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

 

In Nov. 2018, the company inked a debt-rescheduling agreement with a consortium of banks that includes Alawwal Bank, Arab National Bank, Banque Saudi Fransi, Riyad Bank and The Saudi British Bank.

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