Saudi Electricity wraps up $2 bln international sukuk offer

Saudi Electricity Co. headquarters

Saudi Electricity Co. successfully concluded the offering of US dollar-denominated senior unsecured green and/or conventional sukuk, at a total value of $2 billion, under its newly established international sukuk program, according to a statement to Tadawul.

The below table illustrates the offering’s details:

Sukuk Details
Offering Type	US dollar-denominated senior unsecured green and/or conventional sukuk
Offering Value	A 10-year green sukuk tranche of $1.2 billion, and a 30-year conventional sukuk tranche of $800 million.
Total Number of Sukuk	10,000
Nominal Value	$200,000
Sukuk Return	A fixed profit rate of 4.632 % p.a. for the 10-year green tranche, and a fixed profit rate of 5.684% p.a. for the 30-year conventional tranche
Maturity	10 years for the green tranche and 30 years for conventional tranche
Terms of Redemption	The sukuk may be redeemed prior to the scheduled maturity date in certain cases as detailed in the base prospectus in relation to the sukuk

The issuance will be listed on the London Stock Exchange. The sukuk may be sold in reliance on Regulation S under the US Securities Act of 1933, as amended, the statement added.

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