Saudi Electricity sets price guidance for sukuk | GulfNews.com:
State-controlled Saudi Electricity Co has set the final price guidance for a planned sale of dual-tenor US dollar-denominated sukuk, or Islamic bonds, according to documents seen by Reuters.
The company is marketing five-year sukuk, due in January 2024, and 10-year sukuk with a final price guidance of around 120 basis points over mid-swaps and 165 bps over mid-swaps, respectively.
The bonds are expected to price within a range of 5 bps above or below the set guidance. Orders for the issues topped $5 billion, the documents showed.
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