The company did not specify the final value and conditions for issuing the sukuk and said that it will be based on market conditions, but the offering will be in two tranches, the first for 10 years, and the second for 30 years, and it will be listed on the London Stock Exchange.
For its part, Reuters reported, quoting a document it had seen, that the Saudi Electricity Company set an initial indicative price at about 165 basis points over US Treasury bonds to issue green sukuk for a period of 10 years.
She added that the company set an initial indicative price at 240 basis points over Treasury bonds for conventional 30-year sukuk.
owned electric company The Public Investment Fund holds about 75 percent of its shares. She said that the offering aims to finance the company’s general purposes, including capital expenditures and financing the portfolio of green projects.
According to the “Saudi Electricity” statement on the Saudi Tadawul website, HSBC PLC, Standard Chartered Bank, JPMorgan Securities plc, First Abu Dhabi Bank and MUF Bank have been appointed. J Securities plc, Mizuho International plc, SMBC Nko Capital Markets Limited, Al Ahli Capital, Al Rajhi Capital, Saudi Fransi Capital, Abu Dhabi Islamic Bank, Bank of China, Abu Dhabi Commercial Bank, Natixis, and Sosolution General as managers for the potential offering.
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