Riyadh-Mubasher: Saudi Cable Co. has postponed signing legal documents with creditors as one of the banks requested certain changes in the legal wording to conform with the provisions of their chosen banking convention.
The commercial terms and conditions will remain the same as stated in the signed term sheet, the company said in a statement to the Saudi stock market.
The cable manufacturer has appointed Bank AlJazira as the agency bank for all roles as required by the restructuring documents.
The company expects that the revision of documentation will be completed by 31 January 2016.
