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FINANCIAL NEWS
Saudi Electricity Co to sign USD5b finance
16 Jul 2015
(MENAFN) Saudi Electricity Co (SEC), the biggest utility company in the Gulf region, is set to sign a loan of no more than USD5 billion, according to sources that are of knowledge of the matter, Reuters reported.
The company is presently in talks with domestic and international banks to finalize the loan, which spans from USD3 billion to USD5 billion in total and will be divided in a dollar portion and a riyal portion.
“The company is trying to mop up cash it can get at a good price point from the market. They are exploring all options available in the debt market,” a source said in a statement.
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