AI Summary
Saudi Electricity Co. (SEC) headquarters
Saudi Electricity Co. (SEC) finalized the issuance of priority unsecured USD-denominated sukuk, totaling $2.4 billion across three-year, six-year, and 10-year tranches.
In a statement to Tadawul, SEC said the offering was conducted under its international sukuk issuance program, with the following details:
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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: $500 mln - Tranche 2: $700 mln
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Total numbers (sukuk/bonds) |
- Tranche 1: 2,500 - Tranche 2: 3,500
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Par Value |
$200,000 |
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Return |
- Tranche 1: 4.310% per annum - Tranche 2: 4.518% per annum
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Maturity Period |
- Tranche 1: 3 years - Tranche 2: 6 years
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Redemption Terms |
The sukuk may be redeemed before their maturity date under certain circumstances, as detailed in the sukuk’s base issuance prospectus. |
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The sukuk will be listed on the London Stock Exchange's International Securities Market (ISM). They may be sold and delivered exclusively outside the US to non-US persons, under Regulation S of the US Securities Act of 1933, as amended, the statement noted.
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