SEC scores first Saudi green bond

By Mariam Meskin
11 Sep 2020

Saudi Electricity Co, which is majority-owned by the kingdom of Saudi Arabia, has raised its debut green sukuk — making it the first green bond ever issued by a Saudi issuer, just months after the Ministry of Finance raised a green export credit agency-backed syndicated loan.

The Reg S fixed rate senior unsecured green trade contains two tranches: a $650m 1.74% September 2025 tranche and a $650m 2.413% September 2030 piece.

Total order books exceeded $4.8bn.  

Final pricing was set at 140bp and 170bp over mid-swaps for the five and 10 year clips, ...

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