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Al-Kablat Saudi signs 20M Riyal bank deal
The Saudi Cables Company announced the signing of a financing agreement worth 20 million riyals with the Saudi Investment Bank, aimed at supporting its operational activities and expansion plans. The agreement includes guarantees such as promissory notes and the waiver of future dividend income from its investment in Medal Cables Company to ensure the repayment of amounts due. The facilities' term concludes on May 31, 2027, with the possibility of renewal based on a written agreement. This step is part of the company's strategy to diversify funding sources and achieve financial sustainability.
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