The Saudi Electricity Company announced the successful completion of an international green sukuk, divided into two tranches, worth $ 1.3 billion.
The company said in a statement to the Saudi Market (Tadawul), today, Sunday, that the international green sukuk are denominated in the US dollar, have fixed income and priority, and are not backed by assets, according to RegS System.
She explained that the value of the offering is 650 million US dollars, equivalent to 2.438 billion riyals for the 5-year tranche, and another 650 US dollars for the 10-year tranche.
and indicated that the total number of sukuk is 6,500 instruments with a par value of $ 200,000 per one.
She noted that the yield on 5-year sukuk is fixed at 1.74%, while the 10-year bond yield is fixed at 2.413%.
and for eligibility conditions, redemption is on the due date and early redemption when a case of change of control occurs.
The company indicated that the order book was opened for the issue last Thursday morning, and it was closed during the same day with total orders, for both segments, exceeding $ 5.2 billion. / p>
The issuance of green sukuk met with strong demand from international investors from the Middle East, Asia and Europe, and the coverage ratio was more than 4 times and was priced within the company's yield curve of about 10, 15 points. Basis for 5 and 10 years, respectively.
The bonds will be listed on the Irish Stock Exchange (Euronext Dublin).
(Amazon Fun Knowledge)
