arabic Finance & investing French Mena

Saudi Electricity signs $2.15bn credit facility

Saudi Electricity signs $2.15bn credit facility
Saudi Electricity Company (SEC) yesterday (November 29) signed a revolving credit facility agreement with eight international banks for a maximum of $2.15 billion (equivalent to SR8.06 billion).
The facility is divided into two tranches: the first with a maximum of $1.578 billion, which will mature after three years, and the second with a maximum of $573 million that will mature after five years, said a Saudi Press Agency report.
SEC acting chief executive officer Fahd Al-Sudairy said: ”Saudi Electricity Company is the largest electricity service facility in the Middle East and North Africa region and one of the world’s largest service facilities. It has managed to obtain funding without any guarantees from the company, stressing that the funding aims to spend on the company’s public works.”
The major international banks include Abu Dhabi First Bank, Mizuho Bank, MUFG Bank, Standard Chartered Bank, Mitsui Sumitomo foundation, HSBC Bank – Middle East, Hong Kong and Shanghai Banking Corporation Limited, JPMorgan Chase, and Natixis Bank.

Related posts

وزير الصناعة يستقبل سفير فرنسا بالجزائر

Meissa Cheikh

طاقات متجددة: السيد شيتور يعرض اهداف الجزائر خلال الجمعية العامة ال11 للطاقات المتجددة

Meissa Cheikh

La Chine est l’unique grande économie mondiale à enregistrer une croissance en 2020

Meissa Cheikh

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More