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Saudi Cables secures 20M Riyal Bank Credit
Saudi Cable Company announced the signing of a 20 million riyal financing agreement with the Saudi Investment Bank to fund its expansion and operational goals. The financing begins on July 21, 2026, and concludes on May 31, 2027, with the possibility of renewal. As security, the agreement includes promissory notes from board members (Turki Al-Rajhi and Fares Al-Rajhi) and a waiver of dividend distributions from Medal Cables Company as an additional guarantee in case of default. This funding aims to support the company's operations and strategic plans to enhance its financial and production performance, in line with Shariah-compliant financing sources.
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