Saudi Electricity tightens price guidance for its two-part sukuk - IFR

$Image used for illustrative purpose. A vehicle drives past workers near power plant number 10 at Saudi Electricity Company\\'s Central Operation Area, south of Riyadh. , Fahad Shadeed$

Image used for illustrative purpose. A vehicle drives past workers near power plant number 10 at Saudi Electricity Company's Central Operation Area, south of Riyadh.
Fahad Shadeed

The price guidance for its 5-year sukuk tightened to 100 basis points over U.S. Treasuries from 130 BPS released earlier in the day

Mohammad Edrees, Reuters News

February 6, 2024

PHOTO
Image used for illustrative purpose. A vehicle drives past workers near power plant number 10 at Saudi Electricity Company's Central Operation Area, south of Riyadh.

Saudi Electricity Company, the kingdom's electric transmission monopoly, has tightened price guidance for its dual-tranche sukuk sale after it received more than $11 billion in combined orders, fixed income news service IFR said on Tuesday.

The price guidance for its 5-year sukuk tightened to 100 basis points over U.S. Treasuries from 130 BPS released earlier in the day, while price guidance for its 10-year sukuk came down to 115 BPS over same benchmark from earlier 145 BPS, IFR said.

(Reporting by Mohammad Edrees, Editing by Louise Heavens)

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