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Saudi Electricity signs $1.4bn loan deal

Riyadh, April 1, 2012

Saudi Electricity Company has signed a $1.4 billion loan agreement with international banks to finance the constrution of a new power plant, it said in a statement posted on the Saudi bourse website.

The loan, which will be repaid over 15 years, was made by a group of international banks led by HSBC and also including Bank of Tokyo Mitusbishi, Sumitomo-Mitsui Banking Corporation, Bank Mizuho, said the statement in Arabic.

Earlier this month, Saudi Electricity priced a $1.75 billion two-part Islamic bond - the kingdom's first dollar-denominated issue since October 2010, when Saudi Basic Industries Corp (Sabic) launched a $1 billion five-year bond.-Reuters




Tags: HSBC | agreement | loan | power plant | Saudi Electricity | korean banks |

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