Both the agreements bring the companys revolving

Both the agreements bring the company’s revolving facilities
to a value of USD2.06 billion.
In August 2015, SEC revealed its plans for raising
revolving credit facilities (RCF) spilt into a Saudi Riyal tranche
and a US Dollar tranche in order to support its capital
expenditure programme.
The RCF will act as a bridge between the proceeds of any
long-term finance and the ongoing investment requirements.
This will provide SEC with a proper and harmonious financing
mix to support its capital expenditure and achieve the
optimum utilisation of cash resources, and reduce liquidity
and financing costs.
China EXIM bank and Côte d’Ivoire sign USD778 million loan deal
A USD778 million loan deal was signed on December 16, 2015
between Côte d’Ivoire government and the Import Bank of
China (China Exim Bank) for the rehabilitation and
development of the electricity grid in Côte d’Ivoire (Ivory
Coast). The financing will fund the construction of 13 new
transformer substations and the rehabilitation of 14 others
as well as nearly 2,000 km (1,240 miles) of new high-tension
lines.
The project would cost a total of USD854 million, with
the remaining funding coming from the Côte d’Ivoire
government.
China has numerous projects in Ivory Coast, including
the construction of a EUR380 million hydroelectric dam, with
its total active financial commitments topping out at about
EUR1.4 billion.
The country aims to massively expand access to
electricity, targeting a doubling of output by 2020, while the
national authorities plan to invest USD18 billion in the energy
sector by 2030, with a large portion of the investment coming
from the private sector.
(EUR1=USD1.09)
AfDB approves USD375 million loans for Eskom
On December 21, 2015, the African Development Bank (AfDB)
has approved a USD375 million loan and a corresponding A
and B syndicated loan structure for up to USD750 million to
support the Capacity Expansion Program (CEP) of the South
Africa’s vertically-integrated power company Eskom Holdings
SOC Limited.
Under the A and B loan structure, the Bank acts as the
‘lender of record’ of the ‘loan on record’, under which the A
loan is the amount of the loan that the bank has agreed to
keep for its own credit while the B loan is the portion of the
loan that is syndicated to commercial financial institutions.
The approved loan is being financed through the bank’s
private sector window.
The programme will be rolled out over a five-year rolling
period (2015–2020), and will contribute to a comprehensive
expansion of South Africa’s generation capacity and
transmission network.
Through the CEP, Eskom will maintain and rehabilitate
nearly 8,000 MW of installed capacity, while adding 10,986
MW base load capacity, including a 1,332 MW renewable
energy peaking station. It will also expand Eskom’s
transmission network by 9,756 km, thereby connecting
Eskom’s new generation as well as the nearly 90 independent
power producers under the Government of South Africa’s
Renewable Energy Independent Power Producer (RE IPP)
Program.