Saudi Electricity Company $2 billion syndicated loan

Overview:

• Saudi Electricity Company (SEC) has borrowed $2 billion in two tranches - a US dollar conventional syndicated loan and a Saudi-Riyal denominated Islamic facility.
• The international tranche, a syndicated loan totaling $1.4 billion, was coordinated and led by The Bank of Tokyo Mitsubishi, Mizuho Bank, JPMorgan, Crédit Agricole and Deutsche Bank.
• The SAR2.5 billion Islamic trance, which was structured as a revolving murabaha (deferred sale) facility, was provided by The National Commercial Bank and Samba Financial Group. 

Ben Naylor - Regional editor