Saudi Electricity Co. (SEC) commences today, Sept. 10, the issuance of dollar-denominated fixed rate RegS senior unsecured international green sukuk.

 

The value of the issuance, ending on Sept. 11, 2020, is subject to market conditions, the company said in a bourse statement.

 

Sukuk Details

Issuance type

Dollar denominated fixed rate RegS senior unsecured international green sukuk

Issuance amount

To be determined according to market conditions

Issuance start date

Sept. 10, 2020

Issuance end date

Sept. 11, 2020

Issuance target group

Institutional investors (qualified in the jurisdiction in which the offering will be made in accordance with the rules and regulations of such jurisdictions)

Underwriter

First Abu Dhabi Bank, HSBC, JPMorgan, MUFG and Standard Chartered Bank

Minimum subscription

$200,000 and integral multiples of $1,000 in excess, thereof, subject to market conditions

Listing price

Subject to market conditions

Par value

Subject to market conditions

Return

Subject to market conditions

Maturity

5 to 10 years, subject to market conditions

Redemption

On maturity and early redemption following a change of control event

 

SEC further added that the issuance will be under RegS regulations as the stabilization rules of the Financial Conduct Authority (FCA) and the International Capital Market Association (ICMA) will also apply to it.

 

The issuance will be listed on the Irish Stock Exchange (Euronext Dublin).

 

The issuing end date is the expected date of the end of the offering, subject to market conditions, the statement noted, adding that SEC will announce further developments in due course.

 

According to data compiled by Argaam, SEC started, on Sept. 9, holding calls with fixed income investors in Asia, Europe and the Middle East in preparation for potential issuance of dollar-denominated fixed rate RegS senior unsecured international green sukuk.

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Related News

Saudi Electricity holds call with fixed income investors for green sukuk issuance

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2024, Argaam Investment, All Rights Reserved
Call Request