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.
