State utility Saudi Electricity Company (SEC) plans to seek a back-up credit facility comprising two components: a dollar-denominated facility of up to $2.5bn for a period of 3-5 years; and a Saudi riyal-denominated facility with a ceiling of SR3bn ($800mn).
The move is the latest in Saudi firms’ increasing search for funding, which has seen SEC and upstream firm Saudi Aramco secure $63bn since 2007. (CONTINUED - 387 WORDS)
