Sign inSubscribe

Search Site

VideosInforgraphics
Sign inSubscribe
Trends banner

Company News, Business

Nestle to cut 16,000 jobs

The company's shares shoot up 8%.

Multiply Group buys stake in ISEM

Multiply Group will hold 60.8% of ISEM.

Bosch to cut 13,000 jobs

This is a blow to Germany's ailing car sector.

Aldar ups stake in Aldar Estates

Acquires Modon Holding’s 17.45% stake

Oracle shares up 35%

Huge AI contracts lead to the surge.

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.

[adinserter block="5"]

Most Read

UAE’s working mothers get extended maternity leave

The Gulf country is setting a new benchmark for supporting working mothers by doubling the mandated maternity leave to 120 days, Kathryn Martin VFS Global tell TRENDS.

Getting vaccinated is ‘the most patriotic thing’ to do

The Fourth of July is a sacred day in our country. A day of history, of hope, remembrance and resolve with promise and possibilities. Before me stands monuments of the…

Saudi Arabia to generate $150 billion in investments from its new transport policy

The government would provide thirty-five percent of the investments The rest of it, sixty-five percent, will come from the private sector Saudi Arabia expects to generate $150 billion from investments…

GCC healthcare: Transforming the region and impacting the world

PwC forecasts that AI could contribute US$320 billion to Middle Eastern economies by 2030, with healthcare predicted to see some of the largest gains relative to its current size

New-Age Growth Comes Home to the GCC

The region, fueled by ambition and massive investment, is rapidly advancing in technology and infrastructure, aiming to secure a leading role in the 4IR.

[adinserter block="4"]