(SEC) announces signing revolving credit facilities with 11 banks, worth $2.57 bln

The Saudi Electricity Company (SEC) announced on Wednesday, it signed a revolving credit facility agreement, with as many as eleven Banks, worth over $2,57 bln, for three years.

The financiers of the deal include Intesa Sanpaolo Bank, Bank of China, First Abu Dhabi Bank, HSBC Bank Middle East Limited, JPMorgan Chase Bank, Mizuho Bank, MUFG Bank, Standard Chartered Bank, Sumitomo Mitsui Banking Corporation, Abu Dhabi Islamic Bank, and Natixis, the company said in a statement.

This big financing aims mainly to refinance existing revolving credit facilities, and to finance the company’s general objectives, including capital expenditures, as well.