| Element List | Explanation |
|---|---|
| Introduction | International Company for Power and Water Projects (“ACWA Power”) announces the dry financial close for a US$ 125 million senior refinancing facility, denominated in US$, the proceeds of which would be utilized by its subsidiary Rabigh Arabian Water & Electricity Company (“RAWEC”), for various financial commitments including financing expenses and for general corporate purposes including distribution of dividends on 2nd January 2022. The US$ 125 million senior financing facility is being raised from the local bank market and has a tenor of 12.5 years maturing in 2034, is expected to be drawn down in early Jan 2022. |
| Date of Posting the Previous Announcement of Development on Tadawul's Website | 2021-12-23 Corresponding to 1443-05-19 |
| URL of the Previous Announcement | Click Here |
| Change on the Development | This facility further supplements and is pari passu to the previously announced US$ 800 million equivalent senior debt facility that was drawn down on Dec 30, 2021. |
| Financial Impact on the change | The new refinancing facility is expected to result in savings in financing costs for RAWEC. |
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