Saudi Electricity prices USD sukuk amid strong demand
State-owned utilities firm Saudi Electricity Co. (SEC) has priced its Regulation S senior unsecured USD dual-tranche sukuk amid strong demand.
The five-year sukuk is priced at Treasuries + 85 basis points (bps) with a profit rate of 5.225% while the 10-year green sukuk is priced at UST+95 bps with a profit rate of 5.489%.
The order books were in excess of $6.1 billion, excluding joint lead manager (JLM) interest for the 5-year and over $5.5 billion (excluding JLM interest) for the 10-year.
(Writing by Brinda Darasha; editing by Seban Scaria)
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Gulf Today
8 hours ago
- Gulf Today
Christopher Aleo emerges as potential buyer for Dubai's Palazzo Versace Hotel
Gulf Network The iconic Palazzo Versace Dubai, one of the most prestigious luxury hotels in the city, may soon change ownership. Known for its neoclassical architecture and interiors designed by the Italian fashion house Versace, the property has entered a public auction process due to the financial distress of its current ownership. The auction has drawn attention from various international players, and among the potential bidders is Christopher Aleo, a Swiss-Italian entrepreneur and founder of the international financial group iSwiss. However, the potential acquisition is not expected to be carried out directly by iSwiss Bank, but rather through its U.S.-based investment arm, the iSwiss Hedge Fund, headquartered in New York. According to market sources familiar with the matter, the fund is evaluating the opportunity as part of a broader financial strategy, which may include structuring the investment through a listed vehicle on the New York Stock Exchange (NYSE). A Strategic Real Estate Opportunity Located in Jaddaf Waterfront, just minutes from Dubai's financial district, Palazzo Versace is being offered at a base price of approximately AED 600 million (around USD 163 million), significantly below its previously reported valuation of over AED 1.3 billion. Despite the financial challenges facing the current owner, the hotel remains fully operational and continues to deliver high standards of hospitality. For investors, the property represents a prime real estate asset, combining strategic location, brand equity, and established luxury credentials. With 215 rooms and suites, multiple high-end restaurants, lounges, a spa, and views over Dubai Creek, the hotel has long been a preferred destination for international travelers, business leaders, and celebrities. Aleo's Role and the Hedge Fund Angle Christopher Aleo, founder and majority shareholder of the iSwiss Group, is a well-known figure in European financial circles and has had an increasing presence in Dubai's business environment in recent years. While he has made no official comment on the matter, his New York-based hedge fund is reportedly among the entities conducting due diligence on the potential acquisition. Industry analysts note that the deal, if completed, could be structured as a public investment vehicle listed on the NYSE, making it not only a hospitality acquisition but also a sophisticated financial transaction involving international capital markets. This model — integrating high-profile real assets into institutional investment frameworks — has become increasingly common among hedge funds and private equity firms, particularly in cases involving luxury or landmark properties. A Return to Italian Style and New Investment Should the acquisition materialize, the new ownership may consider a strategic repositioning of the hotel, involving significant reinvestments in both infrastructure and service offerings. Sources close to the matter suggest the potential for a refresh of the hotel's Italian design identity, with renewed focus on aesthetic coherence and luxury standards aligned with current global trends. The acquisition by a European-led fund could also represent a reintroduction of Italian influence into the brand's identity, preserving and enhancing the stylistic DNA originally conceived by Versace. Any such repositioning would likely be supported by fresh capital for renovations, branding updates, and enhanced guest services, aligning the hotel more closely with Dubai's rapidly evolving luxury hospitality landscape. No Official Statements At this stage, neither the current ownership of Palazzo Versace nor the iSwiss Group has issued formal statements regarding the potential deal. However, the market has taken note of the growing involvement of hedge funds and international financial players in Dubai's real estate and tourism sectors. The city continues to assert itself as a global hub for tourism, finance, and luxury, offering a fertile environment for cross-sector investment strategies that blend real estate, branding, and financial engineering. Institutional Finance Meets Luxury Real Estate If completed, the acquisition by iSwiss Hedge Fund would represent one of the most significant hospitality-related transactions in the Gulf region this year, further highlighting the convergence of institutional finance and the real economy. Such a move would also reflect a broader trend: financial groups increasingly looking to diversify portfolios by integrating tangible assets into structured investment frameworks, leveraging global equity markets as a source of liquidity and visibility. The coming weeks will likely determine whether this interest translates into a formal bid. If so, it would mark an important milestone for both the iSwiss Group and the hotel itself, setting the stage for a new chapter in the life of one of Dubai's most recognizable hospitality landmarks. For now, Christopher Aleo's name remains one of the most closely watched among potential buyers — a sign of how traditional finance is steadily expanding its footprint into high-end sectors like branded real estate and luxury travel.
Crypto Insight
a day ago
- Crypto Insight
KuCoin expands into Thailand with SEC-approved exchange
Cryptocurrency exchange KuCoin has launched a fully regulated local subsidiary in Thailand after acquiring an operational license from the country's Securities and Exchange Commission (SEC). KuCoin Thailand is the company's first fully regulated local digital asset exchange. In a Friday announcement, KuCoin said the launch reflects its commitment to security and compliance, citing its recent SOC 2 Type II and ISO 27001 certifications. 'This marks a significant step toward strengthening our presence in the fast-growing markets of Southeast Asia, and more importantly, bringing secure, accessible crypto services to users where they are,' said KuCoin CEO BC Wong. Speaking to Cointelegraph, Wong highlighted KuCoin's preference for Thailand as a starting point for regulated expansion: 'Thailand's combination of regulatory clarity, market potential and government backing made it a significant milestone in their global compliance strategy.' KuCoin expands licensed business operations through acquisition KuCoin entered the Thai market by acquiring a local crypto exchange, ERX Company, which was Thailand's first SEC-supervised digital token exchange. The platform was rebranded as KuCoin Thailand on April 22. All existing ERX users have since been migrated to the new KuCoin platform. The exchange is registered with Thailand's Ministry of Commerce from April 30. Wong told Cointelegraph that KuCoin Thailand currently offers spot trading and Thai baht fiat on/off-ramp services. 'While KuCoin Global supports a wide range of products for international users, we plan to expand locally in line with regulations and market demand, he added. Thailand is home to eight other licensed crypto exchanges, including WAAN Exchange, Gulf Binance, Thai Digital Assets Exchange, InnovestX Securities, Cryptonomics, Upbit Exchange, Bitkub Online and Orbix Trade. KuCoin aims to capitalize on the Thai government's plan to allow crypto payments for tourists through credit card integrations. Source:
Zawya
2 days ago
- Zawya
Ponzi: CBEX remains banned in Nigeria, SEC warns investors
The Securities and Exchange Commission (SEC) has insisted that CBEX (Crypto Bridge Exchange), operating under the corporate identity of ST Technologies International Ltd, also known as Smart Treasure/Super Technology, remains banned in Nigeria as it has not been registered by the Commission. The SEC, in a public notice issued on Wednesday, advised the public to refrain from patronising or transacting any investment-related business with CBEX. The notice read: 'The attention of the Securities and Exchange Commission has been drawn to media reports indicating that CBEX (Crypto Bridge Exchange), operating under the corporate identity of ST Technologies International Ltd, also known as Smart Treasure/Super Technology, has resumed operations across Nigeria. 'According to the reports, CBEX promoters are demanding $200 from their subscribers with balances above $1,000, and $100 from those with less than $1,000 balances before withdrawals can be processed.' The SEC stated 'unequivocally that neither CBEX nor ST Technologies International Ltd (or Smart Treasure/Super Technology) is registered with the Commission or authorized to offer investment-related services to the Nigerian public. 'As a matter of fact, enforcement action has already been initiated against CBEX and its promoters following its previous unauthorized investment activities, and the Commission is collaborating with relevant Law Enforcement Agencies to properly investigate CBEX/ST Technologies International Ltd and will take appropriate actions in line with the provisions of the Investments and Securities Act 2025. 'The Nigerian public is accordingly advised to REFRAIN from patronising or transacting with CBEX /ST Technologies International Ltd (Smart Treasure or Super Technology) as they risk losing their funds.' The SEC advised the public to verify the registration status of investment platforms via the Commission's dedicated portal: before transacting any business, adding that it remains committed to protecting investors and maintaining market integrity.
