Saudi Electricity Company announces that it has commenced the offer of its U.S. Dollar denominated Sukuk under its international Sukuk programme

Saudi Electricity Company announces that it has commenced the offer of its U.S. Dollar denominated Sukuk under its international Sukuk programme



Element List

Explanation

Introduction

With reference to the announcement from Saudi Electricity Company (SEC), published on the website of the Saudi Exchange (Tadawul) on 05/02/2024G (corresponding to 24/07/1445H), regarding its intention to issue a U.S. Dollar denominated senior unsecured Sukuk (the Sukuk Offering), SEC announces that it has commenced the Sukuk Offering under its international Sukuk issuance programme established on 31/03/2023G (corresponding to 09/09/1444H). The Sukuk Offering will be through a special purpose vehicle and by way of an offer to eligible investors in the Kingdom of Saudi Arabia and internationally.

Offer Type

U.S. dollar denominated senior unsecured Sukuk.

Value of the offer

The amount and terms of the Sukuk will be determined subject to the market conditions.

Offering start Date

2024-02-06 Corresponding to 1445-07-25

Offering end Date

2024-02-07 Corresponding to 1445-07-26

The targeted class of the issuance

Eligible investors in the Kingdom of Saudi Arabia and internationally.

Name of Issuance Manager

SEC has mandated Standard Chartered Bank, HSBC Bank plc, SMBC Nikko Capital Markets Limited, MUFG Securities EMEA plc, Mizuho International plc, J.P. Morgan Securities plc, Al Rajhi Capital, First Abu Dhabi Bank,