Saudi Electricity Company (5110.SE) has amended its SAR5bn loan agreement signed in 2016 to SAR8bn, the loan period was kept at a seven-year term . The additional SAR3bn were secured from Banque Saudi Fransi (1050.SE), Samba Financial Group (1090.SE), Arab National Bank (1080.SE) and AlAhli NCB. The amended agreement also included no guarantee and will be earmarked to financing the company’s general requirements.

Banque Saudi Fransi: SAR23.89 as of 26 Mar. 2017, Rating: Buy, TP: SAR30.00/share, MCap: USD7,677mn, BSFR AB/1050.SE

Samba Financial Group: SAR20.85 as of 26 Mar. 2017, Rating: Buy, TP: SAR25.00/share, MCap: USD11,120mn, SAMBA AB/1090.SE

Arab National Bank: SAR19.30 as of 26 Mar. 2017, Rating: Neutral, TP: SAR22.00/share, MCap: USD5,147mn, ARNB AB/1080.SE