SEC green sukuk ‘highlights appetite for sustainable finance’

SourceTrade Arabia
SectorFinancial Markets
CountrySaudi Arabia

The recent issuance of a multi-tranche green sukuk worth $1.3 billion by Saudi Electricity Company (SEC) highlights the strong investor appetite for sustainable bonds and sukuks as well as the growing importance of sustainability strategies for emerging market issuers including in regions such as GCC,  according to top ratings agency Moody's.    Saudi Arabia has long been leading the growth of Islamic capital markets in the GCC. In the first half, the kingdom had issued around $12.7 billion of local and international sukuk, just under half of the total amount issued in the GCC and broadly in line with the amount it issued in the first half of 2019.    The Saudi government accounted for around 54% of the country's issuance with corporate activity limited to SEC. Since April 2017, the Saudi government has ...read more...