Rawabi Energy Secures $1.9 Billion Syndicated Financing Deal, One of Largest Private Sector Deals in Saudi Arabia
Saudi Arabia's Rawabi Energy has successfully concluded a $1.9 billion syndicated financing deal, one of the largest private sector financing deals in the country.
The multi-currency term and revolving credit facility was oversubscribed by 1.33 times the initial order.
The funds will be used to support the company's growth plans and streamline its finances.
Abdulaziz Al-Turki, the chairman of Rawabi Energy, expressed his gratitude for the strong partnership with the local and regional banking community, which has supported the company's growth over the years.
HSBC Saudi Arabia acted as the sole structuring bank, joint global coordinator, and global agent, while Gulf International Bank and Gulf International Bank Saudi Arabia acted as joint global coordinators, mandated lead arrangers, and security agents.
Mandated lead arrangers included Saudi Awwal Bank, Saudi National Bank, and Alinma Bank, as well as Riyad Bank, Bank Al Jazira, and Al Rajhi Banking and Investment Corp.
First Abu Dhabi Bank also participated as a lead arranger.
Rawabi Energy, a closed joint stock company, was formed in 2020 to consolidate Rawabi Holding Group's energy services operations into integrated onshore and offshore oil and gas field services.
This successful financing deal demonstrates the confidence of the banking community in Rawabi Energy's growth prospects and its potential to become a national champion in the energy sector.
The funds will be used to support the company's growth plans and streamline its finances.
Abdulaziz Al-Turki, the chairman of Rawabi Energy, expressed his gratitude for the strong partnership with the local and regional banking community, which has supported the company's growth over the years.
HSBC Saudi Arabia acted as the sole structuring bank, joint global coordinator, and global agent, while Gulf International Bank and Gulf International Bank Saudi Arabia acted as joint global coordinators, mandated lead arrangers, and security agents.
Mandated lead arrangers included Saudi Awwal Bank, Saudi National Bank, and Alinma Bank, as well as Riyad Bank, Bank Al Jazira, and Al Rajhi Banking and Investment Corp.
First Abu Dhabi Bank also participated as a lead arranger.
Rawabi Energy, a closed joint stock company, was formed in 2020 to consolidate Rawabi Holding Group's energy services operations into integrated onshore and offshore oil and gas field services.
This successful financing deal demonstrates the confidence of the banking community in Rawabi Energy's growth prospects and its potential to become a national champion in the energy sector.
