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ACWA Power raises SAR1.1bn loan from 5 Saudi banks

ACWA Power raises SAR1.1bn loan from 5 Saudi banks
Photo Credit: Arabianeye - Reuters
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Riyadh – Mubasher: ACWA Power, which runs a power project, said it increased the value of its revolving credit facilities by SAR 1.11 billion, under Murabaha system, while the maturity date will be extended for a further year.

The firm raised additional financing worth SAR400 million, bringing to SAR 2.175 billion the value of the revolving loan with National Commercial Bank and Samba Financial Group that contributed equally to the extra amount.

ACWA Power also signed a new five-year revolving facility deal worth SAR709 million with a bank consortium comprised of Arab National Bank, Bank Al Bilad and Saudi Hollandi Bank.