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2020-09-01 14:25:00

SAUDI ELECTRICITY FINANCING $2.4 BLN

SAUDI ELECTRICITY FINANCING $2.4 BLN

UTILITIES - Aug 31, 2020 - Saudi Electricity Company (SEC), the largest utility company in the Middle East and North Africa region, signed on Aug. 26 a syndicated financing agreement worth SR9 billion ($2.4 billion) with seven major local banks.

The financing is a 7-year medium-term facility and is unsecured syndicated borrowing. It was arranged and funded by the National Commercial Bank, Bank Albilad, Al-Rajhi Bank, Riyad Bank, Samba Financial Group, Banque Saudi Fransi and the Saudi British Bank.

Fahad Al-Sudairi,…

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