PHOTO
Image used for illustrative purpose. A general view of power plant number 10 at Saudi Electricity Company's Central Operation Area, south of Riyadh. REUTERS.Fahad Shadeed
State-owned utilities firm Saudi Electricity Co. (SEC) has priced its Regulation S senior unsecured USD dual-tranche sukuk amid strong demand.
The five-year sukuk is priced at Treasuries + 85 basis points (bps) with a profit rate of 5.225% while the 10-year green sukuk is priced at UST+95 bps with a profit rate of 5.489%.
The order books were in excess of $6.1 billion, excluding joint lead manager (JLM) interest for the 5-year and over $5.5 billion (excluding JLM interest) for the 10-year.
(Writing by Brinda Darasha; editing by Seban Scaria)
