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FINANCIAL NEWS
Saudi ACWA Power raises USD295.7m additional loan
18 Aug 2015
(MENAFN) Saudi power plant developer ACWA Power has raised an additional USD295.7 million of loan finance from the kingdom’s banks, it said in a posted statement.
It increased its 2013 revolving credit facility by USD106.54 million, with National Commercial Bank and Samba Financial Group contributing equally to the extra amount.
The facility, now worth USD579.35 million and also backed by Banque Saudi Fransi and Saudi British Bank, has also had its maturity extended by one year to 2019.
The power and water firm has also signed a new five-year revolving corporate facility worth USD188.85 million with Arab National Bank, Bank Al Bilad and Saudi Hollandi Bank.
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