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Wednesday, February 21, 2024

Launch Partners

Saudi Electricity Company completes offering of dual-tranche US$2 billion Sukuk

SAUDI ARABIA: Saudi Electricity Company has completed the offer of its dual-tranche Islamic issuance consisting of a US$1.2 billion 10-year green Sukuk facility and an US$800 million 30-year traditional Sukuk paper, a bourse filing read.

The 10-year green Sukuk facility has a fixed profit rate of 4.63% per annum while the 30-year traditional Sukuk paper has a fixed profit rate of 5.68% per annum. The issuance will be listed on the London Stock Exchange.

ISFI previously reported that the offer of the issuance commenced on the 31st March 2023.

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