Exclusive: KKR’s First Saudi Deal Signals Private Credit Rush

Exclusive: KKR’s first Saudi deal signals private credit rush

KKR announced its first deal in Saudi Arabia, the latest sign that demand for cash in the Gulf’s biggest economy is leading borrowers to seek out alternative sources of financing aside from banks.The US investment firm is leading a refinancing of debt on a $750 million water treatment plant in Rabigh on the kingdom’s west coast. The owner of the plant, ACWA Power, is part-owned by Saudi Arabia’s sovereign wealth fund. The KKR-led financing is ar…

KKR makes Saudi Arabia debut with private credit deal

KKR has agreed to provide private credit financing to a desalination plant in Saudi Arabia, marking the alternative asset manager’s first investment deal in the kingdom, according to a report by Bloomberg. The firm will act as an anchor lender in a long-term financing package for the facility, which is majority owned by Acwa Power. The Saudi-listed utility, backed by the Public Investment Fund, plays a key role in supplying water to the Mecca re…

US private equity company KKR makes first Saudi investment

US company KKR has made its first investment in Saudi Arabia, backing critical water desalination infrastructure through Acwa Power. The private equity company said it was the anchor lender in a private credit transaction in the Rabigh 3 desalination facility that supplies water to the Mecca region. Financial details of the deal were not disclosed. Rabigh 3 is majority-owned by Acwa Power, which provides a quarter of the country’s desalinated wa…

KKR makes first private credit deal in Saudi Arabia

KKR has completed its first private credit deal in Saudi Arabia, providing financing to a water desalination plant. As part of the strategic transaction, KKR will act as the anchor lender in a long-term financing solution for the Rabigh three desalination facility, which is majority owned by ACWA Power and supplies water to the Makkah region. […] The post KKR makes first private credit deal in Saudi Arabia appeared first on Alternative Credit In…