Saudi Electricity markets new dollar-denominated sukuk

Chicago, Feb. 6 – Saudi Electricity Co. with special purpose vehicle Saudi Electricity Sukuk Programme Co. listed as issuer is in the market with a two-part sukuk offering (A), with both parts expected to be benchmark-sized, according to multiple notices.

The company is expecting to sell trust certificates due Feb. 13, 2029 and Feb. 13, 2034.

The Regulation S certificates are being sold by Standard Chartered Bank, HSBC Bank plc, SMBC Nikko Capital Markets Ltd., MUFG Securities EMEA plc, Mizuho International plc, J.P. Morgan Securities plc, Al Rajhi Capital, First Abu Dhabi Bank, Mashreq Bank, Dubai Islamic Bank PJSC, KFH Capital Investment Co. KSCC and Bank of China PJSC as joint lead managers.

The listing will be in London.

The issuer is a majority state-owned electricity company.

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