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Saudi Electricity Company announces obtaining USD 3.6 billion International Syndicated Credit Facility
| Element List | Explanation |
|---|---|
| Introduction | Saudi Electricity Company has signed USD 3.6 billion (equivalent to SAR 13.5 billion) International Syndicated Credit Facility agreement |
| Date of obtaining the funding | 2024-12-12 Corresponding to 1446-06-11 |
| Financing entity | 1. ICBC 2. Bank of China 3. Agricultural Bank of China 4. Bank of Communications 5. China Construction Bank 6. KfW IPEX-Bank 7. State Bank of India 8. First Abu Dhabi Bank 9. Abu Dhabi Commercial Bank 10. Abu Dhabi Islamic Bank 11. Boubyan Bank 12. Dubai Islamic Bank 13. The Saudi Investment Bank |
| Financing amount. | 3,600,000,000 US Dollars |
| Financing duration. | 5 years (with optional two years extension) |
| Guarantees offered for the financing | None |
| Financing objective | Financing general corporate purposes |
| Related Parties | The Facilities constitute a related party transaction for purposes of the Companies Law promulgated under Royal Decree number M/132 dated 01/12/1443H. (corresponding to 30/06/2022G) and the Implementing Regulations of the Companies Law for Listed Joint Stock Companies issued by the Board of the Capital Market Authority pursuant to resolution number 8-127-2016 dated 16/01/1438H. (corresponding to 17/10/2016G) given that Mr. Khalid Alruwais is a board member of Saudi Electricity Company and The Saudi Investment Bank, a lender of record under the Facilities, and therefore has an indirect interest in the transactions contemplated by the Facilities. |
| Additional Information | None |
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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