VOL. XLVII

No 15

12-April-2004

SAUDI ARABIA

ENERGY FINANCE

SEC Signs $1.6Bn Structured Term Loan Financing Agreement

The Saudi Electricity Company (SEC) on 6 April signed an agreement with six local banks to act as lead arrangers for a structured term loan facility worth SR6bn ($1.6bn) over 15 years. The loan is denominated in Saudi Riyals but includes an optional US dollar tranche of up to $300mn. The six banks involved are: SAMBA Financial Group, National Commercial Bank (NCB), Banque Saudi...