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10-04-14

Saudi Electricity Company issues USD2.5 b sukuk

(MENAFN) Saudi Press Agency reported that the Saudi Electricity Company (SEC) has allocated two global sukuk worth USD2.5 billion, according to Arab News. The company has issued the bonds in two separate tranches; a ten-year bond worth USD1.5 billion, and a thirty-year bond worth USD1 billion. SEC said the pricing guidance was set at 4.25 percent to 4.375 percent on the shorter tranche and 5.625 percent to 5.75 percent on the longer one.