Riyadh - Mubasher: Middle East Specialized Cables Company, a subsidiary of Middle East Specialized Cables Company (MESC), obtained Sharia-compliant banking facilities valued at AED 91 million from Mashreq Bank.
The company secured a promissory note and an assignment of insurance proceeds on 8 December 2025, according to a bourse filing.
Moreover, the subsidiary secured a mortgage on some of the assets factory and machinery amounting to AED 20 million until 31 March 2026.
It will be utilized to meet working capital requirements, finance the procurement of raw materials, issue letters of credit and guarantees, and secure CAPEX needs of the business.
