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Saudi Electricity in talks with banks for dollar sukuk issue

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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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