Saudi Electricity Company (SEC) completed a SR4.5bn ($1.2bn) 10-year floating rate sukuk offer on 23 January, priced at 70 basis points above the Saudi Interbank Offered Rate.
SEC raised $2bn through a sukuk in January 2013 after seeing strong appetite for its debut $1.75bn sukuk the previous year (MEES, 2 April 2012). Since 2010 SEC has tapped international debt markets to fund investment to match rapidly growing electricity demand. (CONTINUED - 279 WORDS)
