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Logo of ACWA Power
ACWA Power Co. started the issuance of unlisted SAR-denominated sukuk through a private placement within its SAR 5 billion local Sukuk program.
According to a statement to Tadawul, the issuance value was determined at a maximum of SAR 1.8 billion, while the amount and terms of offer will be subject to market conditions.
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Sukuk Issuance Details |
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Offer Type |
SAR-denominated sukuk through a private placement |
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Offer Value |
Maximum limit of SAR 1.8 billion.
Amount and terms of offer will be set as per market conditions |
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Start Date |
Jan.10, 2023 |
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End Date |
Feb. 21, 2023 |
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Target Class |
Institutional and qualified clients as defined by the Capital Market Authority (CMA) regulations |
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Minimum Subscription Limit |
SAR 1 mln |
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Offer Price |
As per market conditions |
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Par Value |
SAR 1 mln |
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Sukuk Return |
As per market conditions |
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Maturity |
Seven years with an option to buy in the fifth year from the issue date as per market conditions |
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Terms of Redemption |
Sukuk can be redeemed prior to maturity date in certain cases as detailed in the offering prospectus (related to the Sukuk) |
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Lead Manager/Bookrunner |
HSBC Saudi Arabia and SNB Capital as joint lead managers and bookrunners |
The offer will end before Feb. 21, 2023, ACWA Power said, adding that it will announce any other material developments in due course.
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