Logo ofSaudi Electricity Co. (SEC)
Saudi Electricity Co. (SEC) started issuing a USD-denominated, senior unsecured sukuk today, Feb. 11, with the offering set to run until tomorrow. 
In a statement to Tadawul, SEC said the final issuance size and sukuk terms will be determined based on market conditions.
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The offering is being conducted through a special purpose vehicle and is available to qualified investors in Saudi Arabia and abroad.
Details
Type of Issue
USD-denominated, senior unsecured Sukuk
Value of Issue
Subject to market conditions
Start Date
Feb. 11, 2025
End Date
Feb. 12, 2025
Targeted Class
Qualified Investors in Saudi Arabia and abroad
Issue Manager
SEC has mandated HSBC, Standard Chartered Bank, Abu Dhabi Commercial Bank, First Abu Dhabi Bank, Mizuho, MUFG, SMBC, Intesa Saopaolo, Alistithmar Capital, BofA Securities, ICBC, BNP PARIBAS, Emirates NBD Capital, Natixis, Dubai Islamic Bank PJSC, Bank of China, and SNB Capital as joint lead managers in relation to the potential offer.
Minimum Subscription
$200,000 and multiples of $1,000
Offering Price
Subject to market conditions
Nominal Value
$200,000
Return
Subject to market conditions
Maturity Term
Subject to market conditions
Terms of Redemption
Sukuk may be redeemed prior to the scheduled maturity date in certain cases as detailed in the base offering circular in relation to the Sukuk.
SEC confirmed that it will announce any further material developments in due course, in accordance with relevant rules and regulations, noting that the sukuk will be listed on the International Securities Market of the London Stock Exchange.
It added that the sukuk will be offered, sold, and delivered outside the US only, through offshore transactions to non-US persons, in compliance with Regulation S under the US Securities Act of 1933, as amended.
The company also noted that the indicated closing date of the offering is tentative and subject to market conditions.
Logo ofSaudi Electricity Co. (SEC)
Saudi Electricity Co. (SEC) started issuing a USD-denominated, senior unsecured sukuk today, Feb. 11, with the offering set to run until tomorrow.
In a statement to Tadawul, SEC said the final issuance size and sukuk terms will be determined based on market conditions.
For more news on listed companies
The offering is being conducted through a special purpose vehicle and is available to qualified investors in Saudi Arabia and abroad.
Details
Type of Issue
USD-denominated, senior unsecured Sukuk
Value of Issue
Subject to market conditions
Start Date
Feb. 11, 2025
End Date
Feb. 12, 2025
Targeted Class
Qualified Investors in Saudi Arabia and abroad
Issue Manager
SEC has mandated HSBC, Standard Chartered Bank, Abu Dhabi Commercial Bank, First Abu Dhabi Bank, Mizuho, MUFG, SMBC, Intesa Saopaolo, Alistithmar Capital, BofA Securities, ICBC, BNP PARIBAS, Emirates NBD Capital, Natixis, Dubai Islamic Bank PJSC, Bank of China, and SNB Capital as joint lead managers in relation to the potential offer.
Minimum Subscription
$200,000 and multiples of $1,000
Offering Price
Subject to market conditions
Nominal Value
$200,000
Return
Subject to market conditions
Maturity Term
Subject to market conditions
Terms of Redemption
Sukuk may be redeemed prior to the scheduled maturity date in certain cases as detailed in the base offering circular in relation to the Sukuk.
SEC confirmed that it will announce any further material developments in due course, in accordance with relevant rules and regulations, noting that the sukuk will be listed on the International Securities Market of the London Stock Exchange.
It added that the sukuk will be offered, sold, and delivered outside the US only, through offshore transactions to non-US persons, in compliance with Regulation S under the US Securities Act of 1933, as amended.
The company also noted that the indicated closing date of the offering is tentative and subject to market conditions.
