Saudi Cables announces the signing of a debt reduction agreement

18/04/2017 09:40 AST

Further to the announcement by the company on 23/02/2016 regarding the restructuring agreement signed with four of its main lenders, the company would like to further announce that it has reached a debt reduction agreement with one of those lenders to whom a loan of SR141.9 million is currently outstanding. Under this agreement, the company will make an immediate payment of SR 51 million including SR 11 million as a refundable Guarantee against an outstanding loan and an issued letter of guarantee. In return, the lender will immediately forgive an amount of SR77 million from the current outstanding loan. The remaining loan amount of SR24.9 million will also be forgiven upon the company providing additional cash collateral anticipated to be made before June 2019. The company expects to realize the impact of SR77 million debt reduction in Q2 2017, and the impact of the remaining SR24.9 million debt reduction in Q1 2018.


Tadawul

News

Saudi Cable Board of Directors recommended Reduction the Capital

02/05/2017

With reference to the previous announcement of the Saudi Cable Company dated 22/07/1438 H (corresponding to 19 April 2017) on the official website of the Saudi Arabian Stock Exchange (Tadawul) regard

Tadawul

Saudi Cable appoints NCB Capital as financial advisor

20/04/2017

The Saudi Cable Company announces that it has appointed NCB Capital Company as the financial advisor to manage the process of the capital reduction of the Company, on 21/07/1438H (corresponding to 18

Tadawul

Saudi Cable announces setting a plan to adjust its current conditions

17/04/2017

Saudi Cable Company announces that the Board of Directors is about to reduce the Company's Capital in order to adjust the Company's conditions in accordance with the provisions and regulations issued

Tadawul

Most Viewed Companies

Ticker Price Volume

Valuation

SAUDICABLE Sector Market
P/E
Price/BookValue

Momentum

Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg

Top Related Companies

Ticker Price Change
RIYADHCABLES 105.70 0.50 (0.47%)
ASTRAINDUSTRIAL 137.50 0.60 (0.43%)
ALBABTAIN 59.00 0.70 (1.20%)
GAS 16.00 0.00 (0.00%)
SAUDICERAMICS 25.32 0.46 (1.85%)

Recent News

Sarco unit lands construction contract for school projects in Riyadh

21/08/2026

Saudi Arabian Refineries Company (SARCO) has announced that its key subsidiary Raya Al Tajdeed has secured a SAR100 million ($26.7 million) contract from a multinational education company for the con

Trade Arabia

Saudi Awwal Bank partners with noon to launch a dedicated e-commerce Visa Credit Card

21/08/2026

Saudi Awwal Bank, one of the leading banks in the Kingdom of Saudi Arabia, has partnered with noon, one of the region's leading e-commerce platforms, to launch a first-of-its-kind co-branded Visa cre

Saudi Gazette

United Foods Company reports strong Q2, net profit jumps

21/08/2026

United Foods Company (UFC), a leading UAE-based food manufacturing and distribution company, reported a strong performance for the second quarter of 2026, reflecting continued growth in business acti

Trade Arabia

Saudi Air Connectivity Program, Saudia boost seat capacity to US, China

21/08/2026

Saudi Air Connectivity Program (ACP), in collaboration with Saudia, has announced an increase in seat capacity across several international routes in 2026.

This step reflects ongoing effort

Trade Arabia

Cenomi Centers seals leasing deal with Saudi PIF unit for Madinah Downtown mall

20/08/2026

Arabian Centers Company (Cenomi Centers), a leading Saudi developer of lifestyle destinations, has signed a promise-to-lease agreement with Saudi Downtown Company, a Public Investment Fund (PIF) comp

Trade Arabia

logo

Financial Information Co.

Saudi Arabia

GCC Markets

Mutual Funds

News

Investment Tools

Sector News

Screeners

Indices & Commodities

Downloads

Copyright ©2001 - 2025, Financial Information Co. All Rights Reserved.

Terms of Services | Privacy Policy | Advertise with us | Contact Us | Sitemap