Saudi Electricity signs US$2,577.5 million revolving credit facility

Saudi Electricity Company (SEC), Saudi Arabia's utility company, said it had secured a US $2.58 billion loan, over three year duration, to refinance existing debt and for general corporate purposes.

The loan was provided by a group of 11 banks, the company said in a bourse filing. These banks includes Bank of China, First Abu Dhabi Bank PJSC,Standard Chartered Bank, Abu Dhabi Islamic Bank PJSC, JPMorgan Chase Bank and HSBC Bank Middle East Limited.