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.
You might also like...
Ruwais LNG full EPC award expected in June
29 March 2024
PIF entity makes $1bn Lucid placement
29 March 2024
Petro Rabigh awards KBR maintenance contract
29 March 2024
Diriyah Company seeks firms for demolition work
29 March 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.