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Saudi's MESC Renews, Upsizes Bank Facilities Deal

MT Newswires·01/05/2026 08:42:42
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08:42 AM EST, 01/05/2026 (MT Newswires) -- Middle East Specialized Cables (SASE:2370), d/b/a MESC, renewed and upsized its Islamic Sharia-compliant bank facilities deal with Al-Inmaa Bank. The Saudi Arabian industrial cable manufacturer said Monday the funding was upsized to 150 million Saudi riyals from 50 million riyals and will now expire on Aug. 31, 2028. The amount will be used for working capital and bank guarantee issues.