Saudi Electric raises $1.9bn from seven year Islamic bond

11 May 2010

Saudi Electricity (SEC) has raised SR7bn ($1.87bn) from a seven-year Islamic bond at 95 basis points above the Saudi Interbank Offered Rate (Sibor), Reuters has reported. About 95% of the demand for the issue came from Saudi institutions with only 5% coming from non-Saudi investors, the source noted.

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