The Saudi power company, which is majority owned by the sovereign state investment fund, intends to raise $2 billion (155 billion rubles) from the sale of Islamic bonds with two tranches, Al Arabiya reported on April 3.
The company’s offer consists of a ten-year green sukuk and thirty-year traditional Islamic paper, the document says.
Orders for the ten-year tranche exceeded $9.2 billion (715 billion rubles), while demand for the thirty-year tranche amounted to more than $6.2 billion (485 billion rubles), both without interest, the document says.
It is noted that the high demand was due to the fact that investors wanted to buy sukuk. A market that has long seen imbalances between supply and demand and a relative lack of corporate trouble in the Gulf region, which benefits from high oil prices, said a source familiar with the matter.
Source: Rossa Primavera
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