Saudi Electricity Co. headquarters
Saudi Electricity Co. (SEC) completed the issuance of priority unsecured USD-denominated sukuk.
The offering includes a five-year maturity tranche (Tranche 1) and a ten-year maturity tranche (Tranche 2), totaling $2.2 billion.
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Details of Sukuk Issuance |
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Issuance Type |
Priority unsecured USD-denominated sukuk |
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Offering Amount |
- Tranche 1: $800 mln - Tranche 2: $1.4 bln |
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Total numbers (sukuk/bonds) |
- Tranche 1: 4000 - Tranche 2: 7000 |
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Par Value (sukuk/bonds) |
$200,000 |
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Return (sukuk/bonds) |
- Tranche 1: 4.942% per annum - Tranche 2: 5.194% per annum |
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Maturity Period |
- Tranche 1: 5 years - Tranche 2: 10 years |
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The sukuk can be redeemed before their maturity date under certain conditions, as detailed in the base issuance prospectus, the company said in a statement to Tadawul.
The sukuk will be listed on the London Stock Exchange. The sukuk may be sold under Regulation S of the US Securities Act of 1993, as amended, the statement noted.
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