Saudi Electricity Seeks $1 Billion Loan Amid New Projects

Saudi Electricity Co. is marketing a $1 billion loan, people familiar with the matter said, as the firm seeks to finance new projects, including the expansion of a power plant.

The lending facility will carry a five-year tenor, with Sumitomo Mitsui Banking Corp. acting as the sole mandated lead arranger and bookrunner for the deal, said the people, who asked not to be identified as the matter is private.