{"id":83251,"date":"2024-02-08T00:00:00","date_gmt":"2024-02-08T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/saudi-electricity-wraps-up-an-fcy-sukuk-sale\/"},"modified":"2024-02-08T00:00:00","modified_gmt":"2024-02-08T00:00:00","slug":"saudi-electricity-wraps-up-an-fcy-sukuk-sale","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/ksa\/2024\/02\/08\/saudi-electricity-wraps-up-an-fcy-sukuk-sale\/","title":{"rendered":"Saudi Electricity wraps up an FCY sukuk sale"},"content":{"rendered":"

Saudi Electricity has raised USD 2.2 bn from the sale of dual-tranche unsecured senior <\/strong>sukuk<\/strong>, it said in a disclosure to Tadawul<\/a> yesterday. The sukuk will be listed on the London Stock Exchange (LSE). <\/p>\n

Breaking it down: <\/strong>It raised USD 800 mn from a five-year tranche offering a fixed annual yield of 4.9% and another USD 1.4 bn from a ten-year tranche at a fixed annual rate of 5.2%. The issuance went to market through a special purpose vehicle (SPV).<\/p>\n

Background:<\/strong> The sale is part of a USD-denominated green and \/ or conventional sukuk<\/a>program<\/a> kicked off in March of 2023 and is open to qualified international and local investors. The program raised USD 2<\/a> bn before this most recent sale.<\/p>\n

The proceeds will both finance capex spending and, possibly, green projects<\/strong>, the company\u2019s website says.<\/p>\n

ICYMI- SEC tightened its yield as demand grew: <\/strong>It trimmed the yield<\/a> for its FCY sukuk issuance after receiving over USD 11 bn in orders, during a roadshow for the sale which kicked off<\/a> earlier this week. <\/p>\n

ADVISORS- <\/strong>The company has appointed Standard Chartered Bank, HSBC, SMBC Nikko Capital Markets, MUFG EMEA, Mizuho International, JP Morgan Securities, Al Rajhi Capital, First Abu Dhabi Bank, Mashreq Bank, Dubai Islamic Bank, KFH Capital Investment and Bank of China as joint managers for the potential offering.<\/p>\n","protected":false},"excerpt":{"rendered":"

The sukuk will be listed on the London Stock Exchange (LSE)<\/p>\n","protected":false},"author":1,"featured_media":83252,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[2590],"tags":[2691,2690,57,968,10,966,969,967,660,118],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-83251","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-bank-of-china","tag-capital","tag-debt-watch","tag-dubai-islamic-bank","tag-enterpriseam-ksa","tag-first-abu-dhabi-bank","tag-kfh-capital-investment","tag-mashreq-bank","tag-saudi-electricity-company","tag-sukuk","wpautop","entry"],"acf":{"mongo_id":"2a338f6d-16c5-4176-a67c-59bb10fc72be","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2024\/1\/2232.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Saudi Electricity raises USD 2.2 bn in a dual-tranche sukuk offering","related_issue":[83243],"teaser":"The sukuk will be listed on the London Stock Exchange (LSE)","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/2\/.303f985f-3ef6-4a28-8702-4328c6dc1260.mp3"},"yoast_head":"\nSaudi Electricity wraps up an FCY sukuk sale - 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