Saudi Electricity Company goes green with sukuk

Electricity power grid green network from Adobe 6May20 575x375
By Mariam Meskin
10 Sep 2020

State-owned Saudi Electricity Co is set to debut in the still nascent green sukuk market, making it only a handful of issuers across the world to do so.

The Reg S fixed rate senior unsecured green sukuk will come in two tranches, one maturing in September 2025 and the other in September 2030. 

Initial price thoughts on the benchmark tranches were set on Thursday at 170bp area and 200bp area over mid-swaps, respectively.

“SEC is not a frequent ...

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