| Element List | Explanation |
|---|---|
| Introduction | ACWA POWER Co. announces the dry financial close of a US$ 470 million senior loan facility, denominated in US$ and being raised from the local bank market with a tenor of 12.5 years maturing in 2034, 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. The facility is expected to be drawn down before the end of February 2022. |
| Date of Posting the Previous Announcement of Development on Tadawul's Website | 2022-01-02 Corresponding to 1443-05-29 |
| 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 in December 2021 as well as the US$ 125 million senior debt facility that was drawn in January 2022. |
| Financial Impact on the change | The new financing facility targets the optimization of the capital structure of RAWEC, monetization of the future cashflows of the company and is expected to result in an increase in the financing costs for RAWEC. |
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