11 Feb 2025
| Element List | Explanation |
|---|---|
| Introduction | With reference to the announcement from Saudi Electricity Company (SEC), published on the website of the Saudi Exchange (Tadawul) on 10-02-2025 (corresponding to 11-08-1446 H), regarding its intention to issue a U.S. Dollar denominated senior unsecured Sukuk (the "Sukuk Offering"), SEC announces that it has commenced the Sukuk Offering under its international Sukuk issuance programme. The Sukuk Offering will be through a special purpose vehicle and by way of an offer to eligible investors in the Kingdom of Saudi Arabia and internationally. |
| Offer Type | U.S. dollar denominated senior unsecured Sukuk |
| Value of the offer | The amount and terms of the Sukuk will be determined subject to the market conditions. |
| Offering start Date | 2025-02-11 Corresponding to 1446-08-12 |
| Offering end Date | 2025-02-12 Corresponding to 1446-08-13 |
| The targeted class of the issuance | Eligible investors in the Kingdom of Saudi Arabia and internationally |
| Name of Issuance Manager | SEC has mandated HSBC, Standard Chartered Bank, Abu Dhabi Commercial Bank, First Abu Dhabi Bank, Mizuho, MUFG, SMBC, Intesa Saopaolo, Alistithmar Capital, BofA Securities, ICBC, BNP PARIBAS, Emirates NBD Capital, Natixis, Dubai Islamic Bank PJSC, Bank of China and SNB Capital as Joint Lead Managers in relation to the Potential Offer. |
| Minimum Subscription | USD 200,000 and in increments of USD 1,000 in excess thereof. |
| Offer Price (Sukuk /Bonds) | To be determined based on market conditions. |
| Par Value | USD 200,000 |
| Return (Sukuk /Bonds) | To be determined based on market conditions. |
| Maturity (Sukuk /Bonds) | To be determined based on market conditions. |
| Terms of Redemption | The Sukuk may be redeemed prior to the scheduled maturity date in certain cases as detailed in the base offering circular in relation to the Sukuk. |
| Additional Information | This announcement is not intended as an invitation or offer to purchase, acquire or subscribe to any securities and is subject to the terms and conditions of the Sukuk. SEC will announce any other relevant material developments in due course as required by the relevant rules and regulations. The Sukuk will be listed on the London Stock Exchange's International Securities Market. The Sukuk will be offered, sold and delivered only outside the United States in offshore transactions to non-U.S. persons in reliance on Regulation S under the US Securities Act of 1933, as amended. The Offering End Date referred to above is the expected end date of the offering, subject to market conditions. |
