Saudi Electricity Co. (SEC) has secured an additional Murabaha finance worth SAR 3 billion, raising its total loan to SAR 8 billion, the company said in a statement.
No guarantees were provided for the additional finance, which was secured from Arab National Bank (ANB), Samba Financial Group (SAMBA), National Commercial Bank (NCB), and Banque Saudi Fransi (BSF), under the modified agreement.
Last September, the Gulf’s largest utility provider had signed a SAR 5 billion syndicated Murabaha loan deal with Samba, NCB, and Banque Saudi Fransi to finance its projects, Argaam earlier reported.
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