Saudi Electricity prices sukuk issues amid huge demand

Saudi Electricity said its USD 2.5 billion two sukuk issues have been oversubscribed by over 500 percent, enabling the company to extend maturities of previous debt and broaden base of investors.

The company said it received huge subscription requests worth USD 12.5 billion to its ten-year and 30-year sukuk issues totaling USD 2.5 billion. The two issues were priced within the lower range of initial price at four percent and 5.5 percent, respectively.

The ten-year sukuk was allocated by 34 and 23 percent to US and Middle East investors, and by 17, 16 and ten percent to international institutions, Asian and the US investors, respectively.