Saudi Electricity Co. said it will fully redeem its local sukuk, due on May 10, 2022, worth 5.73 billion riyals, ($1.52 billion) which was listed on the Tadawul exchange.

The sukuk par value at redemption will be 10,000 riyals and the number of bonds redeemed will be 573,069, the state-backed utility provider said in a filing.

(Writing by Brinda Darasha; editing by Seban Scaria)

brinda.darasha@lseg.com