ACWA Power announces commencement of Sukuk denominated in SR, value of offering is maximum SR1.8 billion

ACWA Power Co (the “Company”) announced the commencement of the issuance of the (unlisted) Sukuk under its Saudi Arabian Riyals by way of Private Placement offer amounting to (SAR) 5,000,000,000 sukuk issuance program, and it explained that the value of the offering is maximum SAR 1,8 billion.
The amount and terms of offer of the Sukuk will be determined subject to the market conditions.
The minimum Subscription amount is SAR 1,000,000, while the amount and terms of offer of the Sukuk will be determined subject to the market conditions.
According to the company’s statement on “Tadawul”, the maturity period of the Sukuk continues for 7 years with a call option on the 5th anniversary of the issue date, and the Sukuk may be redeemed prior to the scheduled maturity date in certain cases as detailed in the offering circular in relation to the Sukuk.
This issuance is part of the Saudi Arabian Riyals (SAR) 5,000,000,000 sukuk issuance program that has been approved and announced in the IPO prospectus.
-Additional information:
This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Sukuk.
The offering end date may be earlier than 21/02/2023.
This issuance is part of the ACWA Power Local Sukuk program of SAR 5,000,000,000 which was approved and announced in the prospectus.