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Company News, Business

ADCB to raise $1.66bn

The rights issue aimed at boosting growth.

EGA H1 revenue $4.11bn

Net profit before GAC $445 million.

Borouge to pay $660m H1 dividend

Its net profit for H1 was $474 million.

TAQA secures $2.31bn loan

It will be utilized in a phased manner.

Aramco signs $11bn deal

The deal involves its Jafurah gas facilities.

SEC to raise $2bn from sukuk

Revenue for Q2 grew by 24% to reach SAR 27.7 billion, while gross profit rose by 42% to SAR 7.4 billion.
By Hilal Mir
April 4, 2023 6:59 pm
  • The firm offered a total of 10,000 bonds in the 10-year green sukuk tranche of $1.2 billion and a 30-year conventional tranche of $800 million.
  • The sukuk offering was made under the company’s newly established international sukuk program. Reportedly, the two tranches drew more than $15 billion in demand.

Dubai, UAE — Saudi Electricity Company has wrapped up the $2-billion dollar-denominated green and conventional sukuk.

The company, majority owned by the kingdom’s sovereign wealth fund, PIF, Monday announced a 10-year green sukuk tranche of $1.2 billion and a 30-year conventional tranche of $800 million, offering a total of 10,000 bonds for a fixed profit rate of 4.6 percent for the 10-year tranche and 5.6 percent for the 30-year tranche.

The sukuk offering was made under the company’s newly established international sukuk program. Reportedly, the two tranches drew more than $15 billion in demand.

In a Tadwaul disclosure, SEC said the issuance will be listed on the London Stock Exchange.

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