Middle East Specialised Cables Company (MESC), a leading cable manufacturer in the Kingdom of Saudi Arabia, has announced that it had signed a sharia-compliant finance agreement with Saudi Awwal Bank worth SAR100 million ($26.6 million). The facility will run until March 10, 2027.

This funding will be used to support working capital and the issuance of performance bank guarantees, said MESC in its filing to Saudi bourse Tadawul. 

The facility is backed by promissory notes valued at SAR103.29 million, it added.-TradeArabia News Service