Saudi Electricity Co. (SEC) can expect strong appetite for its debut foray into global debt markets, after the state-owned utility picked banks for roadshows ahead of a potential dollar-denominated Islamic bond.
SEC will hold investor meetings in Asia, the Middle East and Europe starting March 21 following which the company may issue a sukuk, subject to market conditions.
“”The new Saudi Electric sukuk will be very well-received by investors as it promises to be a rare foray into dollar-denominated investment-grade territory,”" said John Bates, head of fixed income at London-based asset manager Silk Invest.
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