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Saudi Electricity Company receives USD4B international credit facility
(MENAFN) On Sunday, the Saudi Electricity Company announced the successful signing of a significant international revolving credit agreement, valued at USD4 billion (approximately 15 billion Saudi riyals). This financing arrangement spans a period of three years with an option for a two-year extension, and it is intended to support the company’s general purposes.
The agreement involves a consortium of prominent global banks, including Abu Dhabi Commercial Bank, Bank of America Europe, First Abu Dhabi Bank, HSBC Bank Middle East Limited, Industrial and Commercial Bank of China (Macau) Limited, JPMorgan Securities, Mizuho Bank Limited, MUFG Bank Limited (DIFC Branch – Dubai), Standard Chartered Bank (Hong Kong) Limited, SMBC International Bank, Saudi Investment Bank, BNP Paribas, Emirates NBD Capital Saudi Arabia, Intesa Sanpaolo – Dubai Branch, and Natixis (DIFC Branch).
In related financial performance, the Saudi Electricity Company reported a substantial profit of 5.2 billion riyals for the first half of this year, reflecting a 16.6 percent increase compared to the same period last year. This growth is attributed to higher electricity demand and an expanding customer base.
The agreement involves a consortium of prominent global banks, including Abu Dhabi Commercial Bank, Bank of America Europe, First Abu Dhabi Bank, HSBC Bank Middle East Limited, Industrial and Commercial Bank of China (Macau) Limited, JPMorgan Securities, Mizuho Bank Limited, MUFG Bank Limited (DIFC Branch – Dubai), Standard Chartered Bank (Hong Kong) Limited, SMBC International Bank, Saudi Investment Bank, BNP Paribas, Emirates NBD Capital Saudi Arabia, Intesa Sanpaolo – Dubai Branch, and Natixis (DIFC Branch).
In related financial performance, the Saudi Electricity Company reported a substantial profit of 5.2 billion riyals for the first half of this year, reflecting a 16.6 percent increase compared to the same period last year. This growth is attributed to higher electricity demand and an expanding customer base.
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