Roadshow to start on 9 January
Saudi Electricity Company (SEC) is due to begin an investor roadshow for a Saudi riyal sukuk on 9 January.
The show will run until 27 February. Once SEC has assessed market demand, it will decide on the size of the planned sukuk.
SEC, which holds the monopoly on the provision of power to Saudi Arabia, has selected HSBC Saudi Arabia and Banque Saudi Fransi, a local affiliate of French bank Credit Agricole to arrange the bond issuance.
MEED reported in November that SEC is also planning to raise a dollar-denominated sukuk issue.
In early 2013, SEC completed a $2bn dual-tranche international sukuk issue, its first offering outside the kingdom.
That deal was split between a 10-year and a 30-year tranche priced at 155 basis points and 190 basis points above benchmark US treasuries.
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