Saudi Cable Company restructures SAR 798 mln debt

23/02/2016 Argaam

Saudi Cable Co. signed on Tuesday restructuring agreements with Al Rajhi Bank, National Commercial Bank (NCB), Bank Aljazira and BNP Paribas to repay its SAR 798 million debt over seven years.

 

The final payment will fall in December 2022, the cable maker said in a statement.

 

The company had signed a term sheet with its major lenders in April to restructure SAR 640 million in debt over a maximum period of eight years.  

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