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State-owned utilities firm Saudi Electricity Co. has secured a $3.6 billion internationally syndicated credit facility.
The financing, which will be utilized for general corporate purposes, has a five-year maturity with two one-year extension options.
The facility is being provided by a syndicate of 13 banks comprising ICBC, Bank of China, Agricultural Bank of China, Bank of Communications, China Construction Bank, KfW IPEX Bank, State Bank of India, First Abu Dhabi Bank, Abu Dhabi Commercial Bank, Abu Dhabi Islamic Bank, Boubyan Bank, Dubai Islamic Bank, and Saudi Investment Bank.
This follows a $4 billion revolving credit facility agreed in August also via an international syndicate of lenders including Abu Dhabi Commercial Bank, First Abu Dhabi Bank, and Emirates NBD.
(Writing by Brinda Darasha; editing by Seban Scaria)
