Saudi Cable lands SAR 20M Islamic facility from SAIB

What's the deal? Saudi CableDealroom has a profile for this one. Try Dealroom → Co. has signed a SAR 20 million ($5.33 million) Shariah-compliant credit facility with The Saudi Investment BankDealroom has a profile for this one. Try Dealroom → (SAIB). The Murabaha commodity financing is meant to support the cable producer's strategic operational plans and financing needs.

How is it structured? The facility is secured by promissory notes from non-executive board member Turki Al Rajhi and executive board member Fares bin Mansour Al Rajhi, both related parties to the agreement.

The fine print: Guarantees also include Saudi Cable's waiver of its future dividend from Medal Cable to SAIB as collateral, should the company fail to repay within the value limits of the facility. The financing expires on May 31, 2027, with an option to renew via written agreement.

The signal: The debt deal, disclosed via a Tadawul statement, points to Saudi Cable leaning on bank financing and insider guarantees to fund its operational plans rather than fresh equity.

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