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Companies & Markets

Saudi Electricity in talks with banks for dollar sukuk issue

Published Mon, May 1, 2017 · 04:06 PM
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[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

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