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ACWA Power increases credit facility to $159.9m.

Summary: Company Power said Sunday it has increased its 2015 revolving credit facility

Staff Report

Dubai: Saudi Arabia-based water and project developer ACWA Power said Sunday it has increased its 2015 revolving credit facility by 600 million Saudi riyal (Dh587 million, $159.9 million) to 1.309 billion Saudi riyal.

Saudi Hollandi Bank (SHB) funded all of the enhanced facility and the total facility is available until the third quarter of 2020, ACWA said in a statement.

The facility used a Sharia compliant murabaha structure, the statement said.

ACWA also said it now has 3.484 billion Saudi riyal revolving credit facility at its disposal.

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Publication:Gulf News (United Arab Emirates)
Date:Aug 21, 2016
Words:121
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