Saudi Cable Secures SAR 20M Murabaha Facility from Saudi Investment Bank

Saudi Cable Company (2110) announced on July 22, 2026, that it has signed a Shari'ah-compliant credit facility agreement (Murabaha) with The Saudi Investment Bank, with the facility obtained on July 21, 2026. The financing amounts to SAR 20,000,000 and is set to expire on May 31, 2027, with an option for renewal upon mutual agreement.

Facility Details

• Amount: SAR 20 million
• Date Obtained: July 21, 2026
• Announcement Date: July 22, 2026
• Maturity: May 31, 2027 (renewable)
• Collateral: Bonds deposited by Non-Executive Board Member Mr. Turki bin Ibrahim bin Mansour Al-Rajhi and Executive Board Member Eng. Faris bin Mansour bin Mohammed Al-Rajhi, as well as an assignment of future dividend proceeds payable to Saudi Cable Company from Medal Cable Company.

Purpose

The facility is intended to finance and support the company's strategic operational plans.

Context

This financing comes as part of the company's efforts to enhance liquidity and support operations in the industrials sector, particularly given the challenges facing the cable industry. Saudi Cable Company manufactures and distributes electrical cables.

What This Means for Investors

The facility is a positive step to strengthen the company's financial position and support its operational plans, but it does not represent a fundamental change in financial performance. Investors should monitor upcoming financial reports to assess the impact.