IPTs out for Saudi Electricity's dual tranche sukuk
The five-year USD benchmark sized sukuk has IPTs in the US Treasuries + 120 basis points (bps) area while the 10-year green sukuk has IPTs in the UST+130 bps area.
Proceeds from the five-year will be used for general corporate purposes, while the 10-year will fund a portfolio of eligible projects as set out in the SEC Group's Green Sukuk Framework .
The profit rate payment schedule is fixed, semi-annual, 30/360.
The certificates will be issued under the Saudi Electricity Sukuk Programme Company's Trust Certificate Issuance Programme, which is expected to be rated Aa3 by Moody's and A+ by Fitch.
(Writing by Brinda Darasha; editing by Daniel Luiz)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Arabian Post
a day ago
- Arabian Post
ADNOC's AI Push Spurs H1 2025 Earnings Surge
Arabian Post Staff -Dubai ADNOC Group's six publicly listed entities posted a combined net profit of USD 4.7 billion for the first half of 2025, underscoring how the widespread deployment of advanced artificial intelligence across operations has sharpened efficiency and underpinned robust growth. At the heart of this transformation lies MEERAi, ADNOC's proprietary AI platform. It is deployed across ADNOC Gas, ADNOC Distribution, ADNOC Drilling, ADNOC Logistics & Services, Fertiglobe and Borouge, delivering real-time, data-driven insights that are elevating decision-making and operational precision across the board. ADVERTISEMENT ADNOC Gas achieved a record Q2 net income of USD 1.385 billion, marking a 16 per cent year-on-year rise, while EBITDA increased 8 per cent to USD 2.256 billion, propelled by surging local demand and operational prowess. Investors will see the payoff as the board approved an interim dividend of USD 1.792 billion, up 5 per cent, due for disbursement in September 2025. MEERAi's impact was central in guiding the board's strategic decisions. ADNOC Distribution delivered its highest first-half EBITDA to date—USD 566 million, up 10 percent—with net profit climbing 12.2 percent to USD 358 million. Fuel volumes surged to a record 7.62 billion litres, and non-fuel retail gross profit lifted 14.9 percent. The AI-driven enhancements include predictive fuel-demand forecasting, intelligent assortment planning and hyper-personalised customer offerings. The company introduced MEERAi to its board for real-time strategic oversight, and it expects to distribute a USD 350 million dividend in October 2025. ADNOC Drilling also delivered standout performance, with management attributing its ability to scale through diverse energy cycles to advanced technologies including AI. The board approved a USD 217 million second-quarter dividend in August 2025. The company is also pursuing regional expansion, including a majority stake acquisition in SLB's land drilling business across Kuwait and Oman. Borouge's AI, digitalisation and technology programme generated USD 307 million in value, including an AI-powered control room in collaboration with Honeywell and integration with MEERAi. New product innovations such as medical-grade polyolefins and recyclable packaging also featured prominently. Meanwhile, ADNOC's broader push to harness AI is also playing a central role in its clean-energy pivot. Following earlier investments in AI tools like RoboWell and AR360, which generated USD 500 million in value and reduced around one million tonnes of CO₂ emissions between 2022 and 2023, the company is now deploying AI to advance low-carbon energy frontiers including hydrogen and carbon management, in partnership with entities such as SOCAR, Microsoft and Masdar. Across all six listed companies, the near-term financial performance echoes the effectiveness of ADNOC's strategy of embedding AI across both core operations and emerging markets. The unified deployment of MEERAi is not just enhancing control-room functions, but reshaping boardroom dynamics, driving smarter strategy execution, operational optimisation, emissions reduction and product innovation. Key players in this transformation include the leadership of ADNOC Distribution, championing digital retail evolution; ADNOC Drilling's CEO Abdulla Ateya Al Messabi, who has publicly credited AI for the company's resilience and growth momentum; and the broader ADNOC executive team, aligning technology and energy transition goals. Their collective efforts are reinforcing ADNOC's position as a global energy player committed to leveraging AI for sustainable value creation.
Arabian Post
2 days ago
- Arabian Post
SUNRATE Secures Payment Business Licence In China
SINGAPORE – Media OutReach Newswire – 15 August 2025 – SUNRATE, the global payment and treasury management platform, today announced it has secured a payment business licence in China following its successful acquisition of a 100% stake in Transfar Pay, a unit of Shenzhen-listed Transfar Group. The RMB 315 million (USD 43.8 million) acquisition has received approval from relevant Chinese regulatory authorities. This transaction had been previously announced by the Transfer Group in an exchange filing dated April 1, 2025. 'This acquisition represents a strategic step in SUNRATE's ongoing commitment to enhancing our global licensing framework and ensuring compliant operations in all jurisdictions, whether through direct licensing or strategic partnerships,' said Paul Meng, co-founder at SUNRATE. With the addition of this licence, SUNRATE gains greater access to one of the world's most important and dynamic markets. This further complements SUNRATE's regulatory presence in key jurisdictions including Singapore, Hong Kong SAR, the United Kingdom, and Indonesia, with further regulatory milestones in other jurisdictions to be announced in due course. ADVERTISEMENT Hashtag: #SUNRATE The issuer is solely responsible for the content of this announcement. About SUNRATE SUNRATE is a global payment and treasury management platform for businesses worldwide. Since its inception in 2016, SUNRATE has been recognised as a leading solution provider and has enabled companies to operate and scale both locally and globally in 190+ countries and regions with its cutting-edge proprietary platform, extensive global network, and robust APIs. With its global business headquarters in Singapore and offices in Hong Kong, Jakarta, London, and Shanghai, SUNRATE partners with the top global financial institutions, such as Citibank, Standard Chartered, Barclays, J.P. Morgan and is the principal member of both Mastercard and Visa. To learn more about SUNRATE, visit
Arabian Business
2 days ago
- Arabian Business
Saudi's PIF sold its entire holding in Meta, Shopify, FedEx and Alibaba in Q2
Saudi Arabia's Public Investment Fund (PIF) has sold all the shares it held in Meta, Shopify and PayPal in the second quarter of the year, according to its latest 13F filing with the US Securities and Exchange Commission (SEC). PIF also sold its stakes in Chinese online retail giant Alibaba Group, Brazil's banking company Nu Holdings, and US logistics company FedEx. According to Reuters, PIF's total exposure to US equities, which include call options that give the state investor a right to buy an underlying asset at a specified price within a specific time period, was valued at US$23.8 billion at the end of Q2, versus US$25.5 billion at the end of the first quarter – a decline of US$1.7 billion. At the end of March, PIF held 667,996 class A shares in Meta, 1.25 million class A shares in Shopify, 1.76 million shares in PayPal, 6.83 million class A shares in Nu Holdings, 1.61 million ADS in Alibaba, and 498,164 common shares in FedEx. In terms of value, PIF's most significant holdings are in two mobility and a gaming company – ride-hailing Uber, EV maker Lucid and Electronic Arts. It held 72.84 million shares in Uber, valued at US$6.8 billion, and 1.77 billion shares in Lucid for a total value of US$3.74 billion. In EA, PIF held 24.8 million shares for a total value of US$3.96 million.
