Saudi Electricity Raises SAR4.5bn From Sukuk Sale
Now Reading
Saudi Electricity Raises SAR4.5bn From Sukuk Sale

Saudi Electricity Raises SAR4.5bn From Sukuk Sale

SEC said at the beginning of January that it had chosen banks to arrange the riyal-denominated transaction.

Avatar

Saudi Electricity Co said on Sunday it raised SAR4.5 billion ($1.2 billion) from the sale of an Islamic bond.

The sukuk was priced at 70 basis points over the three-month Saudi interbank offered rate (Saibor), the Gulf’s largest utility firm said in a statement.

SEC said at the beginning of January that it had chosen banks to arrange the riyal-denominated transaction. It had been planning to meet investors until February 27 but completed the deal earlier. It did not give a reason why in Sunday’s statement.


© 2021 MOTIVATE MEDIA GROUP. ALL RIGHTS RESERVED.

Scroll To Top