Saudi cable maker MESC renews $40mln credit facility with Al Rajhi Bank

By Zawya

By Staff Writer

Saudi-listed Middle East Specialized Cables Company (MESC) has renewed its Shariah-compliant credit facility for financing worth SAR 150 million ($40 million) with Al Rajhi Bank.

The fresh funds will be used to support the company’s daily working capital requirements and to issue bank guarantees for major supply contracts.

The facility is valid through June 30, 2027, MESC said in a disclosure on Wednesday.

The Riyadh-headquartered company is a manufacturer and supplier of specialised industrial wires and cables.

(Writing by Cleofe Maceda; editing by Seban Scaria) seban.scaria@lseg.com

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