29 April, 2024 08:01
Middle East Specialized Cables Company announces securing credit facilities (in compliance with Islamic Sharia)
Element List | Explanation |
---|---|
Introduction | Middle East Specialized Cables Company (MESC) is pleased to announce to its valued shareholders securing credit facilities (in compliance with Islamic Sharia) with Alrajhi Bank to finance its working capital. |
Date of obtaining the funding | 2024-04-28 Corresponding to 1445-10-19 |
Financing entity | Alrajhi Bank |
Financing amount. | SR 100 million |
Financing duration. | One year |
Guarantees offered for the financing | Promissory note for full facility value, assignment of insurance proceeds and purchase orders proceeds for some customers. |
Financing objective | Finance the working capital |
Related Parties | N/A |
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