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ACWA POWER Co. announces providing corporate guarantee to a related party (Saudi National Bank SNB)
| Element List | Explanation |
|---|---|
| Announcement Detail | ACWA Power Co. announces providing corporate guarantee (parent company guarantee) to Saudi National Bank (SNB) to support USD 100 million Equity Bridge Loan (EBL) facility provided to Shuaibah Holding Company (a subsidiary of ACWA Power) in relation to Al Shuaibah 1 & Al Shuaibah 2 Solar PV IPP. SNB is a related party to ACWA Power in accordance with the related party definition. Additionally, this transaction represents an indirect interest to Mr. Abdullah Al-Ruwais, a member of the Board of Directors of both ACWA Power and SNB. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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