MESC

29 April, 2024 08:01

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

Element ListExplanation
Introduction Middle East Specialized Cables Company (MESC) is pleased to announce to its valued shareholders securing credit facilities (in compliance with Islamic Sharia) with Alrajhi Bank to finance its working capital.
Date of obtaining the funding 2024-04-28 Corresponding to 1445-10-19
Financing entity Alrajhi Bank
Financing amount. SR 100 million
Financing duration. One year
Guarantees offered for the financing Promissory note for full facility value, assignment of insurance proceeds and purchase orders proceeds for some customers.
Financing objective Finance the working capital
Related Parties N/A

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