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SEC plans redemption of SAR 5.73bn Sukuk

SEC plans redemption of SAR 5.73bn Sukuk
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Riyadh – Mubasher: Saudi Electricity Company (SEC) intends to fully redeem its local Islamic Sukuk at a value of SAR 5.73 billion on 10 May this year.

A total of 573,069 Sukuk notes, which had been issued on 10 May 2010, will be redeemed at a par value of SAR 10,000 each, according to a bourse filing on Monday.

It is worth noting that the Saudi listed company fully redeemed the second offering of its international Islamic Sukuk, issued on 3 April 2012, at a total amount of $1.25 billion last April.