“Saudi Electricity” begins offering international bonds denominated in dollars
The Saudi Electricity Company started "Saudi Electricity"Issuing sukuks denominated in US dollars under its international sukuk programme.
The company said in a statement on its website: "Saudi Arabia trading": The offering is through a special purpose company to qualified investors inside and outside the Kingdom of Saudi Arabia.
It stated that the final value and terms of the sukuks for the offering, which begins today and ends tomorrow, will be determined based on market conditions.
It explained that the target group of the issuance includes: qualified investors in the Kingdom of Saudi Arabia and abroad.
The company appointed J.P. Morgan, HSBC Bank, Bank of America Securities, and Bank Abu Dhabi Commercial Bank, Dubai Islamic Bank, Emirates NBD Bank, First Abu Dhabi Bank, Kuwait Finance House, Standard Chartered Bank, Al Rajhi Capital, Alinma Financial Company, Bank of China, Islamic Corporation for the Development of the Private Sector, Intesa Sao Paulo, Industrial and Commercial Bank of China, SMBC Bank, and AlAhli Capital Company as issue managers for the offering.
She explained that the minimum subscription is $200,000. US dollars and in increments of multiples of US$1,000, while the offering price, return, and maturity period of the instrument are determined according to market conditions.
It is possible for the instruments to be redeemed before their maturity date in certain cases, as detailed in the basic prospectus for the instruments.
- For more: Follow Khaleejion 24 Arabic, Khaleejion 24 English, Khaleejion 24 Live, and for social media follow us on Facebook and Twitter
