Saudi Electricity fully redeems $1 bln USD-denominated sukuk

06/04/2023 Argaam

Saudi Electricity fully redeems $1 bln USD-denominated sukuk

Saudi Electricity Co. headquarters

Saudi Electricity Co. (SEC) fully redeemed the second tranche of the USD-denominated sukuk, issued on April 8, 2013, and listed on London Stock Exchange (LSE), amounting to $1 billion and maturing on April 8.

 

In a Tadawul statement today, April 6, the utility said a total of 5,000 sukuk were redeemed at a nominal value of $200,000 each. The related amounts will be deposited into sukuk holders’ accounts on April 11. 

 

The financial impact of the sukuk redemption will appear in the second quarter of 2023, SEC noted, adding that the sukuk will be delisted from LSE. 

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