The Saudi Electricity Company (5110) has secured revolving credit facilities amounting to USD 4 billion (SAR 15 billion).
Huge Participation
The facilities came from several local and international banks and financial institutions.
So what
The financing has a three-year term with the option to extend for another two years.
It aims to finance its general company purposes.
Some context
Saudi Electricity’s net profit jumped approximately 8%, reaching SAR 4.3 billion.
The company also reported around SAR 5.2 billion in net profits for the first half of this year, an increase of about 16.6% YoY.
This growth is attributed to increased demand for electricity and a growing customer base.
The company plays a “key role” in supporting the Kingdom by increasing domestic energy efficiency and driving the Kingdom toward carbon neutrality by 2050.
