Saudi Electricity to fully redeem SAR 5.73 bln sukuk due on May 10

25/04/2022 Argaam

Saudi Electricity headquarters

Saudi Electricity Co. (SEC) said it will fully redeem its local sukuk, due on May 10, 2022, valued at SAR 5.73 billion, which was listed on the Saudi Exchange (Tadawul), according to a bourse filing.

 

The number of redeemed sukuk will reach 573,100 while the sukuk par value at redemption date will hit SAR 10,000.

 

The Kingdom’s utility provider said that Tadawul will place a trading halt on the sukuk as of April 26, 2022, in preparation for the delisting. The funds will be deposited in the accounts of the sukuk holders on May 10.

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