Saudi Electricity prices USD 2.5 billion sukuk

02/04/2014 Argaam

Saudi Electricity said today it priced and allocated a two-tranche USD 2.5 billion (SAR 9.38 billion) Sharia-compliant bond issue.

The big-ticket sukuk issue is divided into two tranches— a ten-year USD 1.5 billion issue with a return of four percent, and a 30-year USD 1 billion with a return of 5.5 percent. The return is payable every six months.

The issue was arranged by Deutsche Bank, HSBC and JP Morgan, said the company in a filing on Tadawul.

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