Riyadh-Mubasher: Saudi Electricity Co. (SEC), the state-owned utility, has signed a dollar-denominated credit facility deal with seven global banks at a total value of $1.4 billion (SAR 5.25 billion), which will extend for three years, the company said in a bourse statement on Wednesday.
Bank of Tokyo-Mitsubishi UFJ, Mizuho Bank, Sumitomo Mitsui Banking Corp., HSBC, JPMorgan, Credit Agricole and Deutsche Bank will arrange the loan.
The Saudi market regulator suspended trading on SEC shares from 1:10pm until 2:30pm on Wednesday upon SEC's request as the company said it will announce material developments.
