SUPPLEMENTARY ANNOUNCEMENT OF SAUDI CABLE COMPANY ON THE SIGNING OF THE AGREEMENT TO RESTRUCTURE ITS DEBTS
Further to the previous announcements by Saudi Cable Company on Tadawul, notably on 2015/04/09 , 2015/06/30, 2015/10/08, 2015/11/30, 2015/12/28 and 2016/01/28, regarding the term sheet signed by the Company with its Lenders on April 7, 2015, the Company is pleased to announce it has signed its restructuring agreements with bankers , namely Al Rajhi Bank, The National Commercial Bank, Bank Al Jazira, and BNP Paribas on 23 February 2016.
The terms of the agreement allow the company to amortise its debts amounting to SR 798 Million over a period of 7 years, with final payment being made by December 2022. The company wishes to thank its bankers and the Saudi Industrial Development Fund, for the support and cooperation it received in finalising this transaction.
