Saudi Electricity completes partial purchase of 2030 sukuk

Saudi Electricity Co. (SEC) said it has bought back SAR 1.27 billion worth of sukuk on May 10, representing 18.13 percent of aggregate nominal value of sukuk.

The Saudi utility provider’s Sukuk 3 which is worth SAR 7 billion, matures in 2030, the company added in a statement on Tadawul.

The purchase included 126,930 sukuk, at a nominal value of SAR 10,000 for each.

The repurchased sukuk will be canceled as of May 10, 2017. Accordingly, the sukuk issue will now have a total value of SAR 5.73 billion.