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Saudi Electric to buy back 5 bln riyal sukuk - ASHARQ AL-AWSAT English Archive
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DUBAI, (Reuters) – Saudi Electricity Co (SEC) said on Sunday it would buy back its 5 billion riyal ($1.3 billion) debut sukuk issued in 2007, in accordance with the terms of that issue.

The sukuk is due to expire in 2027 but under the terms, SEC must offer to repurchase it every five years, at a price which decreases over time.

The paper will no longer trade on the Saudi stock exchange from June 17, and payments will be made to bondholders by July 15, SEC said.

Asharq Al-Awsat

Asharq Al-Awsat

Asharq Al-Awsat is the world’s premier pan-Arab daily newspaper, printed simultaneously each day on four continents in 14 cities. Launched in London in 1978, Asharq Al-Awsat has established itself as the decisive publication on pan-Arab and international affairs, offering its readers in-depth analysis and exclusive editorials, as well as the most comprehensive coverage of the entire Arab world.

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