Saudi Cable’s credit facility from SAIB aims to support its operational strategy
Saudi Cable Co. signed a SAR 20 million Shariah-compliant credit facility (Murabaha commodity financing) with The Saudi Investment Bank (SAIB) to support the company’s strategic operational plans and financing needs. 
In a Tadawul statement, the cable producer said the financing is secured by promissory notes provided by non-executive board member Turki Al Rajhi and executive board member Fares Al Rajhi. The guarantees also include Saudi Cable’s waiver of its future dividend to SAIB from Medal Cable as collateral in the event of failure to pay the outstanding amount within the limits of the value of the credit facilities.
The facility will expire on May 31, 2027, with the option to renew it through a written agreement signed by both parties.
The company added that the related parties to the agreement are Turki Al Rajhi and Fares bin Mansour Al Rajhi.
Saudi Cable’s credit facility from SAIB aims to support its operational strategy
Saudi Cable Co. signed a SAR 20 million Shariah-compliant credit facility (Murabaha commodity financing) with The Saudi Investment Bank (SAIB) to support the company’s strategic operational plans and financing needs.
In a Tadawul statement, the cable producer said the financing is secured by promissory notes provided by non-executive board member Turki Al Rajhi and executive board member Fares Al Rajhi. The guarantees also include Saudi Cable’s waiver of its future dividend to SAIB from Medal Cable as collateral in the event of failure to pay the outstanding amount within the limits of the value of the credit facilities.
The facility will expire on May 31, 2027, with the option to renew it through a written agreement signed by both parties.
The company added that the related parties to the agreement are Turki Al Rajhi and Fares bin Mansour Al Rajhi.
