Saudi Electricity in talks with banks for dollar sukuk issue

[RIYADH] State-controlled utility Saudi Electricity Co is in talks with regional and international banks about making a US dollar-denominated sukuk issue, banking sources said on Monday.

The new issue is likely to exceed US$1 billion in size, said one of the sources. A company spokesman did not reply to a request for comment.

Saudi Electricity issued US$2.5 billion of sukuk in 2014 with Deutsche Bank, HSBC and JP Morgan as lead banks.

REUTERS