Saudi Electricity fully redeems $1.25bln sukuk; to delist on LSE
- Date: 05-Apr-2022
- Source: Zawya
- Sector:Financial Markets
- Country:Saudi Arabia
Saudi Electricity fully redeems $1.25bln sukuk; to delist on LSE
State-controlled Saudi Electricity Company said it has fully redeemed the second tranche of its International Islamic Sukuk issued on April 3, 2012, amounting to $1.25 billion and listed on the London Stock Exchange (LSE).
In Tadawul bourse filing on Tuesday, the kingdom's electric transmission monopoly said 6,250 sukuk were redeemed at a par value of $200,000.
The Islamic bonds will be delisted from the LSE, it added.
The financial impact of this transaction will appear in the financial statements of Q2 2022.
(Reporting by Brinda Darasha; editing by Seban Scaria)
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