The financial agreement and reforms will put SEC in a better financial position to meet all its financial obligations and will create a more sustainable capital structure for the company. SEC is the largest electricity company in the MENA region and plays a crucial role in helping meet the growing demand for electricity in Saudi Arabia.
The joint AS&H and Clifford Chance team was led by AS&H Partner and Head of Banking & Finance Yasser Al-Hussain and Clifford Chance Partner and Global Head of Islamic Finance, Qudeer Latif.
Yasser comments “We are extremely pleased to have supported SEC on this agreement. This is testament to the expertise as well as strength and depth of our practice which sees it advising on some of the most innovative and ground-breaking transactions in the Kingdom.”
Qudeer comments "We are delighted to have supported SEC on this transformative financial agreement. The financial agreement is key to enable SEC to move forward with an improved financial position to be able to meet growing demand for electricity in the Kingdom."
The team comprised Ahmed Choudhry (Counsel), Mazin Al-Zamil and Abdulkhaliq Elshayyal (Senior Associates) and Abdullah Alsugair (Associate).