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SEC obtains 5-yr $1.75bn loan

SEC obtains 5-yr $1.75bn loan
The unsecured loan will end on 16 August 2022, and will be paid in one tranche, according to the SEC’s statement to the Saudi Stock Exchange (Tadawul)
SAUDI ELECTRICITY
5110
11.75% 19.78 2.08

Riyadh – Mubasher: The Saudi Electricity Company (SEC) on Wednesday signed a five-year international syndication loan agreement worth SAR 6.56 billion ($1.75 billion).

The unsecured loan will end on 16 August 2022, and will be paid in one tranche, according to the SEC’s statement to the Saudi Stock Exchange (Tadawul).

“The loan is co-financed by eight major international banks including the Bank of Tokyo-Mitsubishi UFJ, Sumitomo Mitsui Banking Corporation, Mizuho Bank, HSBC, Standard Chartered Bank, NATIXIS, Citibank, and First Abu Dhabi Bank,” the statement added.

The loan will be allocated to finance SEC’s expansion projects.