Logo of ACWA Power
ACWA Power Co. completed on Feb. 1 the issuance of unlisted SAR-denominated sukuk through a private placement within its local Sukuk program.
In a statement to Tadawul, ACWA Power said it appointed HSBC Saudi Arabia and SNB Capital as joint lead managers and bookrunners.
The offering is part of ACWA Power Sukuk Issuance Program of SAR 5 billion, which is described in the company's IPO prospectus, it noted.
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Sukuk Details |
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Offer Type |
SAR-denominated sukuk through a private placement |
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Offer Value |
SAR 1.8 billion |
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Number of Sukuk/Bonds |
1,800 |
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Par Value |
SAR 1 mln |
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Sukuk Return |
3-month SAIBOR +0.95% per annum from Feb. 1, 2023 +1.05% per annum from (and including) the fifth anniversary of the issue date |
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Maturity |
7 years with a redemption option in the fifth year from the issue date |
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Terms of Redemption |
Sukuk can be redeemed prior to maturity date in certain cases as detailed in the offering prospectus (related to the Sukuk) |
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