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ACWA Power Co announces the completion of the offering of its (unlisted) SAR 1,800,000,000 Sukuk under SAR 5,000,000,000 Sukuk Issuance Program
| Element List | Explanation |
|---|---|
| Offer Type | Sukuk denominated in Saudi Riyals (SAR) by way of Private Placement offer. |
| Introduction | With reference to the announcement from ACWA Power Co (the Company) published on the website of the Saudi Stock Exchange (Tadawul) on 17/06/1444H (corresponding to 10/01/2023G), relating to the commencement of the Company's offer of Sukuk under the Company's SAR 5,000,000,000 sukuk issuance program, the Company would like to announce the completion of the offer of the Sukuk and the settlement of the Sukuk issuance on 10/7/1444H (corresponding to 01/02/2023G). |
| Offer Type | Sukuk denominated in Saudi Riyals (SAR) by way of Private Placement offer. |
| Value of the offer | SAR 1,800,000,000 |
| Total number of (Bonds/Sukuk) | 1,800 (based on the minimum denomination and total issue size) |
| Par Value (Bonds/Sukuk) | SAR 1,000,000 |
| Return (Bonds/Sukuk) | 3 months Saudi Arabian Interbank Offered Rate (SAIBOR) + 0.95% p.a from 01/02/2023G, with a step-up to 3 months SAIBOR + 1.05% p.a from (and including) the 5th anniversary of the issue date, as detailed in the final terms in relation to the Sukuk |
| Maturity (Bonds/Sukuk) | 7 years, with a call option on the 5th anniversary of the issue date |
| Terms of Redemption | The Sukuk may be redeemed prior to the scheduled maturity date in certain cases as detailed in the final terms in relation to the Sukuk. |
| Additional Information | The Company has appointed HSBC Saudi Arabia and SNB Capital Company as Joint Lead Managers. This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Sukuk. The Company will announce any other relevant material developments to its shareholders in due course. This issuance is part of ACWA Power Sukuk Issuance Program of SAR 5,000,000,000 which is described in the Company's IPO prospectus |
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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