Saudi Electricity Announces Redemption of $1.5 Billion International Sukuk Due in April 2024

Saudi Electricity Company announced on Thursday the full redemption of its International Sukuk due on April 8, 2024. This Sukuk, listed on the Irish Stock Exchange (Euronext Dublin), was issued by SEC on April 8, 2014, with a total value of USD 1.5 billion.

The company stated that the total number of sukuk is 7,500, with each sukuk having a nominal value of $200,000. The redemption amounts will be deposited into the accounts of the sukuk holders on April 8, 2024. Saudi Electricity Company anticipates that the financial impact of this Sukuk redemption will be reflected in its financial statements for the second quarter of 2024.

Saudi Electricity expressed gratitude to its investor base for their trust in the company. Following the redemption, the Sukuk will be delisted from the Irish Stock Exchange (Euronext Dublin)