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Saudi Electricity Company announces the completion of offer of dual tranche Sukuk with a total amount of US$ 2.2 billion under its international Sukuk issuance programme.
| Element List | Explanation |
|---|---|
| Offer Type | U.S. dollar denominated senior unsecured Sukuk |
| Introduction | With reference to the announcement from Saudi Electricity Company ("SEC") published on the website of the Saudi Exchange (Tadawul) on 06-02-2024G (corresponding to 25-07-1445H), regarding the commencement of the offer of its U.S. Dollar denominated senior unsecured Sukuk under its international Sukuk issuance programme (the "Sukuk") by way of an offer to eligible investors in the Kingdom of Saudi Arabia and internationally. SEC is pleased to announce the completion of the offer of a 5-year Sukuk tranche (the "First Tranche") and a 10-year Sukuk tranche (the "Second Tranche") in a total amount of US$ 2.2 billion |
| Offer Type | U.S. dollar denominated senior unsecured Sukuk |
| Value of the offer | - The First Tranche: US$ 800 million; and - The Second Tranche: US$ 1,400 million. |
| Total number of (Bonds/Sukuk) | - The First Tranche: 4,000 Sak; and - The Second Tranche: 7,000 Sak. |
| Par Value (Bonds/Sukuk) | US$ 200,000. |
| Return (Bonds/Sukuk) | - The First Tranche: A fixed profit rate of 4.942% p.a.. - The Second Tranche: a fixed profit rate of 5.194% p.a.. |
| Maturity (Bonds/Sukuk) | - The First Tranche: 5 years. - The Second Tranche: 10 years. |
| Terms of Redemption | The Sukuk may be redeemed prior to the scheduled maturity date in certain cases as detailed in the base prospectus in relation to the Sukuk. |
| Additional Information | The Sukuk will be listed on the London Stock Exchange. The Sukuk may be sold in reliance on Regulation S under the US Securities Act of 1933, as amended. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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