Saudi Electricity prices $2.7bn dual-tranche sukuk offering
Saudi Electricity Company (SEC) has announced that it has successfully priced a $2.75 billion dual-tranche senior unsecured RegS Sukuk under its international Sukuk Programme.
The issuance consists of two tranches: a $1.25 billion 10-year green Sukuk tranche with a profit rate of 5.489% p.a., maturing on February 18, 2035, and a $1.5 billion 5-year conventional Sukuk tranche, maturing on February 18, 2030, with a profit rate of 5.225% p.a.
According to SEC, the green tranche of this offering marks SEC's fourth green sukuk tranche under its Green Sukuk Framework, with proceeds allocated to financing or refinancing eligible green projects in renewables and energy efficiency.
Since 2020, SEC has raised a total of $3.75 billion through green Sukuks, reinforcing its commitment to decarbonization and the continued expansion of its eligible green project portfolio.
This supports SEC's net-zero ambition by 2050 and aligns with its ESG strategic objective of advancing Saudi Arabia's energy transition in line with Vision 2030, said SEC in a statement.
On February 10, SEC held a virtual investor roadshow, attracting strong investor interest from Asia, Europe, and the Middle East.
The issuance was successfully priced the following day in an intraday transaction, with the order book exceeding $12 billion, representing an oversubscription of 4.3 times, it added.
According to SEC, the company maintains high investment-grade credit ratings from leading international rating agencies: Aa3 (stable) from Moody's, A+ (stable) from Fitch, and A (positive) from Standard & Poor's.
On the successful sukuk, Acting CEO Engineeer Khaled Al Ghamdi said: "This issuance reaffirms the company's ability to attract strong investor interest in international markets, supported by its robust credit standing and pivotal role in providing sustainable and highly reliable energy solutions."
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Biz Bahrain
12 hours ago
- Biz Bahrain
Under the patronage of H.E. Chairman of Shura Council, BTECH hosts Bahrain Digital Content Awards
Under the esteemed patronage of His Excellency Ali Bin Saleh Al Saleh, Chairman of the Shura Council, the Bahrain Technology Companies Society (BTECH), in strategic collaboration with the World Summit Awards (WSA) will host the prestigious Bahrain Digital Content Award (BDC Award) this June. This landmark initiative highlights the rising strategic significance of the digital content sector and its pivotal contribution to driving sustainable digital transformation across the Kingdom of Bahrain. On this occasion, Mr. Ahmed Ateyatalla Alhujairi, Chairman of the Digital content awards, stated: 'The continuation of the Bahrain Digital Content Award underscores the strategic importance of the digital content sector as a key enabler of innovation, economic growth, and national development. The award serves as a key catalyst for inspiring creative talent to develop impactful digital solutions that drive progress across diverse sectors and contribute meaningfully to the Kingdom's socio-economic development and digital prosperity.' Mr. Ahmed Ateyatalla Alhujairi further emphasised that fostering a culture of digital entrepreneurship is an essential pillar in advancing the strategic objectives outlined in Bahrain's Vision 2030. Mr. Tareq Fakhroo, Chairman of the Bahrain Technology Companies Society (BTECH), expressed his heartfelt appreciation and noting that such support plays a pivotal role in reinforcing the Society's efforts to drive digital innovation across the Kingdom, and added, 'The 2025 edition of the Bahrain Digital Content Award seeks to attract distinguished startups, private company, government body, or academic institution and more in the digital content arena. As in previous editions, the award will serve as a strategic platform for participants to showcase their capabilities, forge meaningful partnerships, and expand their footprint across local, regional, and international markets.' It is noteworthy that the previous edition of the Bahrain Digital Content Award achieved significant success, honouring a distinguished group of creators and renowned institutions for their outstanding contributions to the digital landscape. The event served as a testament to Bahrain's commitment to fostering a culture of innovation, excellence, and leadership in the field of digital content. The renewed patronage of His Excellency Ali Bin Saleh Al Saleh, Chairman of the Shura Council, for this year's edition further affirms the Kingdom's sustained national focus on advancing this dynamic and strategically vital sector.
Trade Arabia
4 days ago
- Trade Arabia
Saudi Electricity Company boosts Hajj grid capacity by 75%
The Saudi Electricity Company (SEC) has significantly increased the electrical grid capacity in the holy sites for this Hajj season by over 75% compared to last year, investing more than SAR3 billion in development projects. This enhancement, guided by government directives and Minister of Energy Prince Abdulaziz bin Salman bin Abdulaziz, stems from a thorough review of past Hajj seasons and anticipated needs, reported SPA. SEC stated that projects were implemented early, ensuring full load connectivity for network reliability. The operations and management center in the holy sites is now equipped with advanced, AI-supported technical applications for comprehensive system monitoring, with equipment connected via fiber optics for rapid information flow and timely decision-making by trained national cadres, said the report. SEC has also developed a robust emergency plan, deploying over 2,200 engineers, technicians, and specialists across 57 strategically located centers to ensure a response time of under five minutes anywhere in the holy sites, it added.
Daily Tribune
4 days ago
- Daily Tribune
TRA Bahrain recognised for global regulatory excellence
TDT| Manama Bahrain's Telecommunications Regulatory Authority (TRA) has been awarded the prestigious Quality Choice Prize 2025 by the European Society for Quality Research (ESQR), placing it among a select group of international institutions recognised for regulatory excellence. The award was presented during the annual Quality Convention and celebrates TRA Bahrain's performance in quality management, digital transformation, and adherence to international governance standards. It affirms Bahrain's growing presence on the global map of forward-thinking regulatory models. Institutional pride 'This international recognition is a testament to TRA Bahrain's dedication to quality and transparency across all levels of its work,' said Sh. Abdulla bin Humood Al Khalifa, Director of Consumer Affairs and Communication at TRA. 'We are proud to represent Bahrain on this global platform and will continue to uphold the highest standards in serving consumers and the telecommunications sector.' TRA Bahrain was selected for its strategic reforms, internal performance systems, and consumer-first approach to oversight. The recognition is also seen as a reflection of Bahrain's broader commitment to Vision 2030 through institutional improvement and regulatory clarity. Regional leadership Since its establishment in 2002, TRA Bahrain has worked closely with government, consumers, and telecom operators to modernise the Kingdom's communications infrastructure. It has earned a reputation for independence and transparency, helping position Bahrain as a regional hub for tech investment and digital governance. The ESQR award is expected to further reinforce Bahrain's image as a centre of excellence in regulation and innovation across the Middle East.
