PHOTO
Saudi Electricity Company (SEC) has raised $2 billion from the sale of its US dollar denominated dual-tranche sukuk, or Islamic bonds.
The issuance included a 10-year green or sustainable sukuk tranche of $1.2 billion, and a 30-year conventional sukuk tranche of $800 million, the state-backed utility said in a regulatory filing on Tuesday on Riyadh's Tadawul exchange where its equity shares trade.
The 10-year green tranche was priced at 4.632 % while the 30-year conventional tranche was offered at 5.684%.
The sukuk, which will be listed on the London Stock Exchange, comes under SEC's newly launched international sukuk programme, the kingdom's electric transmission monopoly said.
(Reporting by Brinda Darasha; editing by Seban Scaria)
