Saudi Arabia's ACWA Power expands revolving credit facility

August 21, 2016 6:25 AM

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DUBAI Aug 21 Saudi Arabia-based power and water project developer ACWA Power IPO-ACWA.SE said on Sunday it had increased a revolving credit facility secured last year by 600 million riyals ($160 million) to 1.30 billion riyals.

The extra funds will be solely provided by Saudi Hollandi Bank, with the facility available until the third quarter of 2020, it said in a statement. It added that the facility was structured as a shariah-compliant commodity murabaha structure.

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