Saudi Electricity fully redeems $1.25 bln international sukuk

05/04/2022 Argaam
The building of Saudi Electricity Company

The building of Saudi Electricity Company

Saudi Electricity Co. (SEC) fully redeemed $1.25 billion worth of international Islamic sukuk maturing on April 3, 2022. The sukuk were issued on April 3, 2012, and are listed on London Stock Exchange (LSE), the utility said in a statement to Tadawul. 

 

The company redeemed a total of 6,250 sukuk at a nominal value of $200,000 each. The related amounts were deposited in sukuk holders’ accounts on April 4.

 

The financial impact of the sukuk redemption will appear in the second quarter of 2022, SEC noted, adding that these sukuk will be delisted from LSE.

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