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    Home » Rawabi Energy Successfully Concludes One Of The Largest Private Sector Syndicated Financing In Saudi Arabia
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    Rawabi Energy Successfully Concludes One Of The Largest Private Sector Syndicated Financing In Saudi Arabia

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    Rawabi Energy and its subsidiaries (together“Rawabi Energy”), today announced the successful conclusion of one of the largest private sector syndicated financing in the Kingdom of Saudi Arabia with the financial close of SAR 7.175 billion Syndicated multi-currency senior secured term and revolving SAR and USD facilities (the“Transaction”).

    Led by strong market demand, the landmark Transaction was oversubscribed by 1.33x, reinforcing confidence in the Kingdom’s economy and the robust prospects for growth driven by the strategic vision of the leadership. The Transaction also highlights the investor trust in Rawabi Energy and Rawabi Holding Group, underpinned by strong fundamentals and exceptional expertise in the energy sector and other sectors. Several national and regional banks successfully arranged, structured, and concluded the market clearing structure and syndication strategy for Rawabi Energy.

    The Transaction, one of the largest of its kind in the history of the Saudi market, represents a key milestone for Rawabi Energy, which devised a successful market clearing structure and syndication strategy. It also highlights the success of the company’s goal to expand Rawabi Energy’s bank group to include regional banks and attract USD liquidity on a long-term basis. The Transaction will accelerate its growth plans, underpinned by a full capital structure take-out and refinancing of existing indebtedness.

    HSBC Saudi Arabia acted as the sole Structuring Bank, Joint Global Coordinator, Global Agent, Facility Agent and Investment Agent. Gulf International Bank B.S.C. and Gulf International Bank – Saudi Arabia (together“GIB”) acted as Joint Global Coordinator, Mandated Lead Arranger, Facility Agent, and Security Agent. The Mandated Lead Arrangers included Saudi Awwal Bank (SAB), Saudi National Bank (SNB), Alinma Bank, Riyad Bank, Bank Al Jazira, and Al Rajhi Banking and Investment Corporation (AlRajhi Bank). The lending group also included First Abu Dhabi Bank (FAB) acting as Lead Arranger.

    Abdulaziz Ali AlTurki, Rawabi Holding Group Chairman and the Chairman of Rawabi Energy, said:“We are delighted to receive this level of support on our debut Dual-Currency Syndicated transaction from the local and regional banking community. This transaction demonstrates the strong partnership we have with our financiers, who have supported our growth over the years and played a key role in positioning Rawabi Energy as a National Champion, aligning with our wise leadership’s limitless ambitions.”

    “This transaction demonstrates the robustness and agility of Rawabi Energy. As a major player in the Energy Services sector, we have committed our resources toward sustainable growth, best in class quality and technology leadership. This financing marks an additional diversification element, unlocks capital and showcases the level of sophistication the group has,” said Osman Ibrahim, Rawabi Holding Vice Chairman and Group CEO and Rawabi Energy Vice Chairman.

    The Managing Director of Rawabi Energy, Ahmed Alqadeeb, added:“Rawabi Energy plays a vital role in supporting the Oil & Gas sector in Saudi Arabia while being totally aligned with the Kingdom’s sustainability targets. With our industry leadership, commitment and growth plans, we will continue to deliver and achieve, aligning with Saudi Arabia’s Vision 2030. It is important to maintain a prudent financial policy and captive capital structure. This transaction streamlines our existing finances and provides us with the required funding for further growth.”

    Ahmad AlShubbar, the Group VP of Treasury & Strategy, Board Member of Rawabi Energy, said:“The group has shown its ability to fund its operations throughout the economic cycles, thanks to the level of transparency, strict corporate governance, management agility and resilience of the business. After successfully tapping the Debt Capital Markets, today we take a step further and tap the Loans Capital Markets with a groundbreaking debut Syndicated Facility which received a remarkable level of demand and achieved our transaction objectives. We appreciate and thank our partners in the banking sector for their trust in Rawabi Energy and its management team and for their contribution to the success of this landmark financing.”

    Rawabi Energy, a closed joint stock company, was incorporated in AlKhobar in 2020 to consolidate Rawabi Holding Group’s Energy Services operations into an integrated onshore and offshore oil and gas field services. Rawabi Energy provides services to its strategic clients, the national and international oil companies. Rawabi Energy company comprises of Rawabi Vallianz Offshore Services (RVOS), Rawabi Oil & Gas (ROG), and United Safety Limited in Canada, to name a few, and has interests in several other international entities.

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