Saudi Electricity to sign $3 bln international syndicated facility agreement today

Saudi Electricity Co. (SEC) will sign today, Oct. 24, a $3 billion international syndicated facility agreement.

In a statement to Tadawul, the utility said the five-year facility will be secured from Saudi National Bank (SNB, Dubai Islamic Bank, Kuwait Finance House and Mashreq Bank.

SEC will use the facility to finance its expansion plans and capital investments in the electricity industry.

No guarantees are provided, SEC added.

source : Argaam