MESC renews SAR 150M credit facilities with Alinma Bank

Middle East Specialized Cables Co. (MESC) renewed today, Jan.5, a Shariah-compliant credit facility agreement worth SAR 150 million with Alinma Bank, according to a statement to Tadawul.

The company said the renewed facilities were increased by SAR 50 million compared with the previous agreement, adding that a SAR 165 million promissory note was provided as collateral.

MESC noted that the renewal agreement is dated Oct. 5, 2025, and became effective today.

The facilities will run until Aug. 31, 2028, and will be used to finance working capital requirements and issue bank guarantees, including performance guarantees.

There are no related parties to the deal, the statement added.