Riyadh - Mubasher: Saudi Electricity Company (SEC) is planning to issue a dollar-denominated bond, and is currently in discussions with a group of international banks, as reported by Reuters citing unnamed sources familiar with the matter.
SEC is looking to refinance a $2.6 billion bridge syndicated loan that was provided by a consortium of banks in January and was aiming to issue the debt securities already this month.
The company reported losses of SAR 1.2 billion in the first quarter of 2018, against a profit of SAR 4.9 billion in Q1-17.
Losses declined 78% quarter-on-quarter to SAR 1.2 billion in the three-month period ended March 2018, from SAR 5.5 billion in Q4-17.
