Saudi Electricity’s green sukuk highlights investor appetite for sustainable finance

Saudi Electricity’s green sukuk highlights investor appetite for sustainable finance

RIYADH — On Sept. 10, 2020, Saudi Electricity Company (SEC, A2 negative) finalized the terms of a multi-tranche $1.3 billion green sukuk. SEC reported an order book of more than $5.2 billion for the offering, highlighting the strong investor appetite for sustainable bonds and sukuks.The transaction also highlights the growing importance of sustainability strategies for emerging market issuers including in regions such as the Gulf Cooperation Council (GCC).The issuance comes at a time of increasing focus on sustainable strategies internationally and also supports the growth of Islamic capital markets by the government of Saudi