Rabigh Arabian Water and Electricity Company (RAWEC) (99% indirectly owned by ACWA Power) is considering raising incremental senior debt in the capital or loan markets. This facility would further supplement and would be pari-passu to the previously announced US$ 800 million equivalent senior debt facility that was drawn down on Dec 30, 2021 and the US$ 125 million senior debt facility that was drawn in early Jan 2022 and would be non-recourse to ACWA Power.
RAWEC is an independent water, steam & power producer that supplies these essential utilities on a captive basis to an integrated refinery and petrochemical complex owned by Rabigh Refining and Petrochemical Company (“Petro Rabigh”). ACWA Power holds an indirect 99% equity stake in RAWEC through its wholly owned subsidiaries. RAWEC developed its integrated facility in 2 phases; phase I being commissioned in June 2008 and phase II in June 2016. The integrated facility has an installed capacity of 840 MW power, 6110 t/h steam and 12000 t/h water.
This announcement does not constitute an offer of securities. This announcement is not for publication or distribution, directly or indirectly, in or into the United States of America. This announcement is not an offer of securities for sale into the United States. The securities referred to herein have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States, except pursuant to an applicable exemption from registration. No public offering of securities is being made in the United States.