Saudi Electricity Successfully Completes Dual-Tranche Sukuk Offering Totaling $2.2 Billion

The Saudi Electricity Company announced on Wednesday the successful completion of its sukuk offering comprising two tranches: a 5-year maturity tranche (the first tranche) and a 10-year maturity tranche (the second tranche), with a combined value of $2.2 billion.

The company specified that the first tranche amounted to $800 million, while the second tranche amounted to $1.4 billion, with 4,000 and 7,000 bonds issued for each tranche, respectively.

As per the statement published on “Tadawul,” the first tranche offers a fixed annual return of 4.942%, while the second tranche offers a fixed annual return of 5.194%.

The Sukuk may be redeemed before the scheduled maturity date under certain circumstances outlined in the base prospectus. Additionally, these sukuk will be listed on the London Stock Exchange and may be sold under Regulation S of the US Securities Act of 1933, as amended.