Saudi Electricity secures SAR5bn loan from local banks
Saudi Electricity Company (5110.SE) has signed a seven-year term Murabha financing agreement worth SAR5bn through a consortium composed of Banque Saudi Fransi(1050.SE), Samba Financial Group (1090.SE) and AlAhli NCB, which included no guarantees and will be earmarked at financing the company’s capital expenditures. (Tadawul) Banque Saudi Fransi: SAR22.00 as of 18 Sept, Rating: Buy, FV: SAR30.00/share, MCap: USD7,071mn, BSFR AB / 1050.SE Samba Financial Group: SAR18.30 as of 18 Sept, Rating: Buy, FV: SAR25.00/share, MCap: USD9,760mn, SAMBA AB / 1090.SE
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