SEC signs a SAR5.2 billion funding agreement with seven international banks
Saudi Electricity Company (SEC) [5110.SE] announced that it has signed funding agreements (revolving credit facilities) for a total of SAR5.25 billion (USD1.4 billion) with seven international banks in London on 6 January 2016. The participating global banks are The Bank of Tokyo-Mitsubishi UFJ, Mizuho Bank, Sumitomo Mitsui Bank, HSBC, JP Morgan, Credit Agricole and Deutsche Bank. The signed agreements come with a three-year tenor and are in both SAR and USD and will be used to finance the company’s planned projects. (Company disclosure)
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