ACWA Power subsidiary raises maximum bond purchase limit to $428 mln

Logo of ACWA Power

ACWA Power announced that its wholly-owned subsidiary, ACWA Power Management and Investments One Limited, raised the maximum bond purchase value before amortization from $400 million to $428 million. 

The purchase offer and acceptance of the bonds are subject to the other terms and conditions contained in the purchase offer memorandum dated Nov. 7, the company said in a statement to Tadawul. 

The memorandum was prepared by ACWA Power Management and Investment One Ltd. and was subject to offer restrictions as described in the purchase offer note. 

The final settlement date is expected to be Dec. 9, the statement said. 

According to data compiled by Argaam, ACWA Power Co.’s subsidiary announced on the Irish Stock Exchange (Euronext Dublin) an offer to purchase cash bonds up to $400 million.