Saudi Electricity's $1.3bln green sukuk oversubscribed

by **GirlBye** Sun Sep 13, 2020 10:57 am

EVERYONE KNOWS THAT SAUDI ELECTRICITY IS ABOUT TO EXPLODE BECAUSE THEY ARE GOING TO PROVIDE ELECTRICAL ASSISTANCE TO IRAQ. THAT'S WHY THE SUBSCRIPTION RATE HAS BEEN SO TREMENDOUS. EVERYONE WANTS IN!!!!! Very Happy

Company says it received 'high demand' from investors

Saudi Electricity's $1.3bln green sukuk oversubscribed 130220064418FQCP

State-controlled Saudi Electricity Company (SEC) has generated a lot of investor interest for its $1.3 billion international green sukuk offering, which received orders of more than $5 billion, it has been confirmed.
The kingdom’s electric transmission monopoly last week announced the sale of bonds in a two-part offering, denominated in US dollars. It's the first public green issuance from the region this year and the proceeds will be used for green-friendly projects.
The high interest received from investors in the Middle East, Asia and Europe pushed the oversubscription rate to four times, the company said in bourse filing on Sunday.

https://www.zawya.com/mena/en/markets/story/Saudi_Electricitys_13bln_green_sukuk_oversubscribed-ZAWYA20200913085755/