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SEC says size and terms of sukuk will be based on market conditions
The sukuk will be offered to qualified investors inside and outside Saudi Arabia, the utility provider said in a statement to Tadawul.
The size and terms of the sukuk issuance will be determined based on market conditions.
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Issuance Details |
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Type |
Senior, unsecured USD-denominated sukuk |
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Offering Amount |
Subject to market conditions |
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Start Date |
Jan. 15, 2026 |
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End Date |
Jan. 16, 2026 |
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Target Investors |
Qualified investors inside and outside Saudi Arabia |
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Lead Managers |
JPMorgan, HSBC, BofA, Abu Dhabi Commercial Bank, DIB, Emirates NBD, FAB, Kuwait Finance House, Standard Chartered Bank, Al Rajhi Capital, Alinma Capital, Bank of China, Islamic Development Bank, Intesa Sanpaolo, Industrial and Commercial Bank of China, Sumitomo Mitsui Banking Corporation and SNB Capital |
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Minimum Subscription Value |
$200,000 with integral multiples of $1,000 |
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Offering Price |
Subject to market conditions |
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Nominal Value |
$200,000 |
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Return |
Subject to market conditions |
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Maturity |
Subject to market conditions |
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Terms of Redemption |
May be redeemed under certain conditions, as specified in the sukuk issuance prospectus |
SEC said the announcement does not constitute an invitation or offer to purchase, acquire, or subscribe to any securities. Any transactions are subject to the terms and conditions of the international sukuk, and the company will notify its shareholders of any other material developments in due course.
The sukuk will be listed on the International Securities Market of the London Stock Exchange. It will be offered, sold, and delivered exclusively outside the US in offshore transactions to non-US persons in accordance with Rule 144A/Reg S offering requirements under the US Securities Act of 1933, as amended.
The closing date of the sukuk offering referred to above is indicative and subject to market conditions, the statement said.
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