Saudi Electricity to buy 18% of its Sukuk 3 on May 10

04/05/2017 Argaam

Saudi Electricity Co.’s (SEC) special meeting on Wednesday of holders of the Saudi Electricity Sukuk 3, has approved the company buying 18.13 percent of the sukuk with an aggregate nominal value of SAR 1.26 billion on May 10, the company said in a statement to Tadawul on Thursday.

 

Holders of the sukuk, which is worth SAR 7 billion and expires in 2030, also approved adding May 2022 as the new date for purchasing the remaining sukuk.

 

They also approved a new profit margin of 1.35 percent, instead of 0.95 percent, for the remaining sukuk. 

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