Saudi Electricity completes redemption of $1.25bn sukuk
CONSTRUCTION NEWS
The Saudi Electricity Company said it has redeemed the second tranche of its international Islamic bond (sukuk), valued at $1.25 billion, which was listed on the London Stock Exchange.
The numbers of redeemed sukuk touched 6,250, stated SEC in its filing to Saudi bourse Tadawul, adding that the sukuk par value at redemption date will hit $200,000.
Deutsche Bank AG, London Branch is the paying agent for the transaction.
Saudi Electricity Company said the sukuk will be delisted from the London Stock Exchange and the financial impact of the transaction will appear in the statements of Q2 2022.-TradeArabia News Service
