Saudi: MESC obtains $40mln facility from Alinma Bank

The funds will be used to finance the company’s working capital and issue performance bank guarantees

Staff Writer, Mubasher

January 6, 2026

PHOTO

Riyadh - Middle East Specialized Cables Company (MESC) has renewed a Sharia-compliant banking facility agreement with Alinma Bank, according to a bourse filing.

Following the renewal, the funding increased by SAR 50 million to a total of SAR 150 million.

The funds will be used to finance the company’s working capital and issue performance bank guarantees.

Effective from 5 January 2026, the facility is set to run until 31 August 2028 and is secured through promissory notes valued at SAR 165 million.

In December 2025, Middle East Specialized Cables Company, a subsidiary of MESC, secured Sharia-compliant banking facilities worth AED 91 million from Mashreq Bank.

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