ACWA Power plans $1bln Sukuk issuance

The company is reportedly in talks with a number of banks in Saudi Arabia

  

Riyadh –  ACWA Power International plans to raise about SAR 3.75 billion ($1 billion) from a Sukuk sale, Bloomberg reported citing unnamed sources.

The company is reportedly in talks with a number of banks in Saudi Arabia to discuss the issuance of the SAR-denominated Sukuk.

Proceeds from the bond sale are expected to be directed towards corporate purposes.

Source: Mubasher

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