ACWA Power to raise SAR 3.75 bln from Islamic bond sale, sources say

21/04/2020 Argaam

 

Saudi utilities provider ACWA Power plans to raise as much as SAR 3.75 billion ($1 billion) from an Islamic bond sale, Bloomberg reported, citing people familiar with the matter.

 

The sources indicated that the company is in talks with local banks about the potential deal that would be denominated in Saudi riyals.

 

The funds would be used for general corporate purposes, they further added.

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