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DEBT WATCH-
#1- Saudi Electricity Company secured USD 4 bn in international syndicated revolving credit facilities from 15 local, regional, and global lenders, according to a disclosure to Tadawul. The three-year facilities have an option for a two-year extension. The funds are intended for “general corporate purposes.” Information about how much each lender contributed to the transaction wasn’t disclosed.
#2- Nomu-listed Naba Al Saha Medical Services has obtained a SAR 250 mn from Riyad Bank, it said in a disclosure to Tadawul. The new facility runs for nine years and is earmarked for financing a hospital project in Riyadh’s Al Munisiyah district.
CAPITAL MARKETS-
Care2 Fund is set to relocate its entire 20% stake in Nomu-listed Professional Medical Expertise Company (ProMedEx) to the investment portfolios of its unitholders, the fund’s manager Al-Khair Capital Saudi Company informed ProMedEx on Thursday according to a disclosure to Tadawul. The Second Health Care Trading Company is acting as custodian for the transaction.
Nomu-listed Edarat Communication and IT tapped Yaqeen Capital as financial advisor for its transition to Tadawul’s main market, according to a disclosure to Tadawul.
HEALTHCARE-
Brazilian healthcare provider Oncoclínicas&Co plans to tap the Saudi market through a JV with Al Faisaliah Group, according to a joint press release. Oncoclínicas, one of the largest groups for cancer treatment in Latin America, will launch a cancer outpatient center in Riyadh, focusing on diagnostic medicine and treatments, including chemotherapy and radiotherapy.
CONSTRUCTION-
Riyadh Development and Riyadh Holding signed an agreement to establish a new joint-stock company to develop the Deira area in Riyadh, according to a disclosure to Tadawul.
TRANSPORT-
The Saudi Public Transport Company has signed a SAR 84 mn contract with Tabuk Municipality to operate the public bus transport network in Tabuk City, according to a disclosure to Tadawul. The contract covers the first phase of the public transport network and will run for five years.
ALSO- The Tabuk public transport project will be the first to get electric buses: Initially, 25% of the buses will be electric, with plans to extend this technology to future projects across the Kingdom, according to state news agency SPA.
GAMING-
Savvy Games and San-Francisco based gaming developer Niantic Inc. signed an MoU to expand AR gaming in Saudi, the UAE, and Egypt, where PIF-owned Savvy will support Niantic’s regional operations, providing assistance with office space, talent recruitment, and logistics, according to a press release.
