SEC Raises $2.5Bn Through Credit Facilities


State-dominated utility Saudi Electricity Company (SEC) has raised $2.5bn from US and European fixed income investors through two credit facilities, official news agency SPA says. Pricing and allocation of the two instruments was announced on 9 April, following a series of meetings with potential investors beginning on 25 March.

The issuance comprised two tranches of certificates: instruments worth $1.5bn with a...