Saudi Electricity mandates 8 banks for potential sukuk issue

13/09/2018 Argaam

 

The Saudi Electricity Company (SEC) has appointed eight banks for its potential sukuk issue, it said in a statement to Tadawul on Thursday.

 

Citi, First Abu Dhabi Bank, HSBC, Mizuho, MUFG, NATIXIS, SMBC Nikko and Standard Chartered Bank have been named as joint lead managers.

 

The company said it plans to commence holding meetings from today (Sept.13), with fixed-income investors.

 

The potential sukuk is likely to be offered in one or multiple tranches, subject to market conditions and the approval of official authorities, the statement added.

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