Middle East Specialized Cables Increases Alinma Bank Financing to SAR 250 Million
Middle East Specialized Cables Co. has reached an agreement to boost its credit facility with Alinma Bank to a total of SAR 250 million.
Middle East Specialized Cables Co. (MESC) has officially expanded its existing credit facility agreement with Alinma Bank. The company announced that it signed an addendum to the original contract, raising the total value of the financing to SAR 250 million.
According to a filing on the Saudi Exchange (Tadawul), the updated agreement is designed to provide the company with additional liquidity to support its ongoing operational requirements. The financing, which is secured by a promissory note, aims to strengthen MESC’s capital structure and facilitate its current business activities. The company confirmed that the facility remains subject to the terms and conditions outlined in the original agreement with the bank.