Saudi Electricity Co. (SEC) headquarters
Saudi Electricity Co. (SEC) announced the completion of a $2.75 billon dual-tranche sukuk offering, including a green tranche, according to a Tadawul statement.
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Details |
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Type |
US dollar denominated senior unsecured sukuk |
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Value |
First tranche: $1.5 bln Second tranche (green sukuk): $1.25 bln
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Total Number of Sukuk |
13,750 |
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Nominal Value |
$200,000 per certificate |
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Return |
5.225% annually for five-year tenor 5.489% annually for 10-year tenor
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Maturity |
Five years for the first tranche 10 years for the green sukuk tranche |
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Terms of Redemption |
The sukuk may be redeemed prior to the scheduled maturity date in certain cases as detailed in the base offering circular |
The sukuk will be listed on the London Stock Exchange, the company said.
It added that the sukuk will be offered, sold, and delivered only outside the US in offshore transactions to non-US persons in accordance with Regulation S under the US Securities Act of 1933, as amended.
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