Saudi Cable Company announced the signing of a debt rescheduling agreement with its last commercial creditor.
The company said in a statement to the Saudi market (Tadawul) today, Tuesday, that the agreement was signed yesterday with Al-Rajhi Bank, which is the funded entity.
She explained that the reasons for rescheduling financing are overdue and unpaid loans.
She stated that the amount of pre-scheduling financing amount is 58.3 million riyals for a period of two years with a grace period of 6 months.
The amount of financing after the rescheduling amounted to 208.88 million riyals for a period of 4 years, extendable up to 5 years if the amount of 58.3 million riyals was settled within two years.
This brings the amount of financing and the rescheduled portion to about 264.18 million riyals.
