Middle East Specialized Cables Company announces securing credit facilities (in compliance with Islamic Sharia)

Middle East Specialized Cables Company announces securing credit facilities (in compliance with Islamic Sharia)

Element List

Explanation

Introduction

Middle East Specialized Cables Company (MESC) is pleased to announce to its valued shareholders securing credit facilities (in compliance with Islamic Sharia) with Emirates NBD KSA Bank to finance its working capital.

Date of obtaining the funding

2024-03-28 Corresponding to 1445-09-18

Financing entity

Emirates NBD KSA bank

Financing amount.

SR 70 million

Financing duration.

One year

Guarantees offered for the financing

Promissory note for full facility value

Financing objective

Finance the working capital

Related Parties

N/A

Middle East Specialized Cables Company announces securing credit facilities (in compliance with Islamic Sharia)