| Element List |
Explanation |
| Introduction |
Middle East Specialized Cables Company (MESC) announces the Signing of Sharia Compliant Banking Facilities Agreement with SNB. |
| Date of obtaining the funding |
2025-01-12 Corresponding to 1446-07-12 |
| Financing entity |
The Saudi National Bank |
| Financing amount. |
SR 80 million |
| Financing duration. |
12 Months |
| Guarantees offered for the financing |
a promissory Notes worth 110% of the total facility and assignment of insurance proceeds. |
| Financing objective |
Financing the company working capital and issuance of different types of Bank guarantees. (Performance BG, Advance payment BG.) |
| Related Parties |
Not applicable |
| Additional Information |
Agreement dated on 17th Nov 2024 while the effective date of the facility activation took a place on 12th January 2025 |
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