Saudi Electricity Co. (SEC)headquarters
Saudi Electricity Co. (SEC)finalized the issuance of priority unsecured USD-denominated sukuk, totaling $2.4 billionacross three-year, six-year, and 10-year tranches. 
In a statement to Tadawul, SEC said the offering was conducted under its international sukuk issuance program, with the following details:
Details of Sukuk Issuance
Issuance Type
Priority unsecured USD-denominated sukuk
Offering Amount
– Tranche 1: $500 mln
– Tranche 2: $700 mln
Tranche 3: $1.2 bln
Total numbers (sukuk/bonds)
– Tranche 1: 2,500
– Tranche 2: 3,500
Tranche 3: 6,000
Par Value
$200,000
Return
– Tranche 1: 4.310% per annum
– Tranche 2: 4.518% per annum
Tranche 3: 5.065% per annum
Maturity Period
– Tranche 1: 3 years
– Tranche 2: 6 years
Tranche 3: 10 years
Redemption Terms
The sukuk may be redeemed before their maturity date under certain circumstances, as detailed in the sukuk’s base issuance prospectus.
The sukuk will be listed on the London Stock Exchange’s International Securities Market (ISM). They may be sold and delivered exclusively outside theUS to non-US persons, under Regulation S of the US Securities Act of 1933, as amended, the statement noted.
Saudi Electricity Co. (SEC)headquarters
Saudi Electricity Co. (SEC)finalized the issuance of priority unsecured USD-denominated sukuk, totaling $2.4 billionacross three-year, six-year, and 10-year tranches.
In a statement to Tadawul, SEC said the offering was conducted under its international sukuk issuance program, with the following details:
Details of Sukuk Issuance
Issuance Type
Priority unsecured USD-denominated sukuk
Offering Amount
– Tranche 1: $500 mln
– Tranche 2: $700 mln
Tranche 3: $1.2 bln
Total numbers (sukuk/bonds)
– Tranche 1: 2,500
– Tranche 2: 3,500
Tranche 3: 6,000
Par Value
$200,000
Return
– Tranche 1: 4.310% per annum
– Tranche 2: 4.518% per annum
Tranche 3: 5.065% per annum
Maturity Period
– Tranche 1: 3 years
– Tranche 2: 6 years
Tranche 3: 10 years
Redemption Terms
The sukuk may be redeemed before their maturity date under certain circumstances, as detailed in the sukuk’s base issuance prospectus.
The sukuk will be listed on the London Stock Exchange’s International Securities Market (ISM). They may be sold and delivered exclusively outside theUS to non-US persons, under Regulation S of the US Securities Act of 1933, as amended, the statement noted.
