Saudi Electricity Co. headquarters
Saudi Electricity Co. signed today, Feb. 11, a Shariah-compliant Murabaha financing facilities agreement with a total value of SAR 16 billion. 
In a statement to Tadawul, the company said the financing was provided by seven banks, including six Saudi banks and one Qatari bank, namely: Saudi National Bank (SNB), Al Rajhi Bank, Saudi Awwal Bank (SAB), Banque Saudi Fransi (BSF), Arab National Bank (ANB), Riyad Bank, and Qatar International Islamic Bank (QIIB).
The company added that the financing has a tenor of three years, with an option to extend subject to the terms of the agreement, and will be used to refinance existing debt under its current Murabaha facilities, noting that SNB is considered a related party.
Saudi Electricity Co. headquarters
Saudi Electricity Co. signed today, Feb. 11, a Shariah-compliant Murabaha financing facilities agreement with a total value of SAR 16 billion.
In a statement to Tadawul, the company said the financing was provided by seven banks, including six Saudi banks and one Qatari bank, namely: Saudi National Bank (SNB), Al Rajhi Bank, Saudi Awwal Bank (SAB), Banque Saudi Fransi (BSF), Arab National Bank (ANB), Riyad Bank, and Qatar International Islamic Bank (QIIB).
The company added that the financing has a tenor of three years, with an option to extend subject to the terms of the agreement, and will be used to refinance existing debt under its current Murabaha facilities, noting that SNB is considered a related party.
