State-controlled Saudi Electricity Company said it has fully redeemed the second tranche of its International Islamic Sukuk issued on April 3, 2012, amounting to $1.25 billion and listed on the London Stock Exchange (LSE).

In Tadawul bourse filing on Tuesday, the kingdom's electric transmission monopoly said 6,250 sukuk were redeemed at a par value of $200,000.

The Islamic bonds will be delisted from the LSE, it added.

The financial impact of this transaction will appear in the financial statements of Q2 2022.

(Reporting by Brinda Darasha; editing by Seban Scaria)