Saudi Arabia’s ACWA Power expected to reopen dollar notes offering

By Colin Hanner

Chicago, April 24 – A postponed dollar-denominated offering of notes from Saudi Arabia’s ACWA Power Management and Investments One Ltd. might return to the market next week, a market source said.

Investor calls will be conducted Monday through Friday, the source said.

In December, S&P Global Ratings assigned a preliminary BBB- rating to the dollar-denominated senior secured sukuk, and Moody’s Investors Service assigned provisional long-term Baa3 ratings.

ACWA Power is a Riyadh-based company that provides electricity and desalination services.

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