Thursday 17 April 2014
Saudi Electric

Saudi Electricity raises $1.2bn from sukuk

Saudi Electricity Company said on Sunday it raised 4.5 billion riyals ($1.2 billion) from the sale of an Islamic bond. The sukuk was priced at 70 basis points over the 3-month Saudi interbank offered rate (Saibor), the Gulf's


SEC signs $366m loan for Jeddah power plant

Saudi Electricity Co (SEC) has signed a $366 million loan agreement with the Japan Bank for International Cooperation (JBIC) and two Japanese banks to help finance the construction of a 2,650 megawatt (MW) power plant in Jeddah. T


Saudi Electric launches $2bn sukuk

  Saudi Electricity Co (SEC), the Gulf's largest utility, has launched an offer of a $2 billion dual-tranche Islamic bond, or sukuk, with pricing due later on Tuesday, a document from lead managers said.  


Saudi Electric to sign $2.85bn power plant deal

State-controlled Saudi Electricity Co (SEC) will sign a SR10.7 billion ($2.85 billion) power deal with a consortium that includes South Korea's Samsung for construction of the Qurayyah plant, it said on Monday. Al-Qurayyah, south of th


SEC invites banks for potential dollar-bond

Saudi Electricity Co has invited banks for a potential bond mandate, reported IFR Markets, a unit of Thomson Reuters, after the company said last year it could tap international debt markets in 2011.    In May, a senior exe


Saudi Electric posts record Q3 net profit

Saudi Electricity posted a better-than-expected 34 percent rise in its net profit during the typically-positive and hot third quarter after an increase in electricity tariffs and a surge in power demand. The Gulf's largest utility by m


SEC plans to spend $80bn to boost capacity

Saudi Electricity Co is offering US firms tenders to build a group of power plants that will boost capacity by an additional 30,000 megawatts, its chief executive said in published remarks on Sunday. The projects, to be completed within th

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