Saudi Electricity Company to sign $4bln syndicated loan | ZAWYA MENA Edition:
State-controlled Saudi Electricity Company said it will sign on Wednesday a 15.2-billion-riyal ($4.05 billion) Islamic syndicated loan provided by a group of local banks.
The loan has a murabaha structure, a cost-plus-profit arrangement which complies with Islamic finance standards, and will be used for general corporate purposes, including capital expenditure, the company said in a statement.
The firm, the main electricity producer in Saudi Arabia with an 81.2 percent indirect government ownership, is a frequent borrower in the domestic and international debt capital markets.
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