Saudi Electricity Calls on Investors for Green Bond Sale

Saudi Electricity Calls on Investors for Green Bond Sale

The utility is among a number of regional corporations and governments seeking to tap international debt markets to raise funds.

It follows the publication of its Green Sukuk Framework (GSF) aimed at mitigating climate change.

It has appointed HSBC and MUFG as green structuring advisors with First Abu Dhabi Bank, J.P. Morgan and Standard Chartered Bank among the joint lead managers, according a statement to the Tadawul.

A flurry of debt sales in recent weeks across the Gulf markets have drawn great interest from international investors attracted by the strong ratings of many regional issuers. Bahrain, Abu Dhabi and Dubai are among the sovereign sales that have already been announced while several corporations have also gone to the market as a low oil price and the coronavirus pandemic spur activity.

Saudi Electricity said it