“Saudi Electricity” raises $2.4 billion by offering sukuks in 3 tranches
The Saudi Electricity Company announced "Saudi Electricity"The completion of the offering of sukuks divided into 3 tranches with a total value of $2.4 billion under its international sukuk issuance program, with maturities of 3, 6, and 10 years.
The company said in a statement on its website "Saudi Arabia trading"The value of the offering in the first tranche is $500 million, the second is $700 million, and the third is $1.2 billion.
She added that the total number of bonds in the first tranche is 2,500, in the second 3,500, and in the third 6,000.
She stated that the nominal value of the bond is $200,000, while the fixed annual return for the first tranche is at a rate 4.310%, in the second 4.518%, and in the third tranche a fixed annual return at a rate of 5.065%.
It indicated that the maturity period of the sukuk in the first tranche is 3 years, in the second, 6 years, and in the third, 10 years.
According to the company, it is possible to redeem the sukuks before their maturity date in certain cases, as detailed in the basic prospectus for the sukuks.
/>The sukuk will be listed on the international financial market of the London Stock Exchange.
It noted that the sukuk will be sold and delivered outside the United States only and through foreign transactions to non-American persons based on Regulation S of the US Securities Act of 1933, as amended from time to time.
The company had announced on the website of the Saudi Stock Exchange (Saudi Tadawul) on 07/26/1447 AH corresponding to 01/15/2026 AD, it began issuing priority, unsecured sukuks denominated in US dollars under its international sukuk issuance program, and offering them to qualified investors inside and outside the Kingdom of Saudi Arabia.
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