Saudi Electricity Co. (SEC)headquarters
Saudi Electricity Co. (SEC) announced the completion of a $2.75 billon dual-tranche sukuk offering, including a green tranche, according to a Tadawul statement. 
Details
Type
US dollar denominated senior unsecured sukuk
Value
First tranche: $1.5 bln
Second tranche (green sukuk): $1.25 bln
Total Number of Sukuk
13,750
Nominal Value
$200,000 per certificate
Return
5.225% annually for five-year tenor
5.489% annually for 10-year tenor
Maturity
Five years for the first tranche
10 years for the green sukuk tranche
Terms of Redemption
The sukuk may be redeemed prior to the scheduled maturity date in certain cases as detailed in the base offering circular
The sukuk will be listed on the London Stock Exchange, the company said.
It added that the sukuk will be offered, sold, and delivered only outside the US in offshore transactions to non-US persons in accordance with Regulation S under the US Securities Act of 1933, as amended.
Saudi Electricity Co. (SEC)headquarters
Saudi Electricity Co. (SEC) announced the completion of a $2.75 billon dual-tranche sukuk offering, including a green tranche, according to a Tadawul statement.
Details
Type
US dollar denominated senior unsecured sukuk
Value
First tranche: $1.5 bln
Second tranche (green sukuk): $1.25 bln
Total Number of Sukuk
13,750
Nominal Value
$200,000 per certificate
Return
5.225% annually for five-year tenor
5.489% annually for 10-year tenor
Maturity
Five years for the first tranche
10 years for the green sukuk tranche
Terms of Redemption
The sukuk may be redeemed prior to the scheduled maturity date in certain cases as detailed in the base offering circular
The sukuk will be listed on the London Stock Exchange, the company said.
It added that the sukuk will be offered, sold, and delivered only outside the US in offshore transactions to non-US persons in accordance with Regulation S under the US Securities Act of 1933, as amended.
