27.03.2012 - SEC may go for long Sukuk tranche on massive demand
Massive demand for Saudi Electricity Co’s (SEC) first international sukuk issue may prompt the company to include a rare long-dated tranche—and could encourage issues by other utility companies in the Gulf. Since last week, roadshows held by SEC in Asia, the Middle East and Europe have underlined the fact that its sukuk has almost everything possible going for it: it is the first issue of dollar-denominated Saudi paper since 2010, it is a rare investment-grade issue from that country, the company is majority-owned by the Saudi government, and the debt is a sukuk, which means it will tap a pool of Islamic investors that have bought Gulf debt eagerly in the past six months...............................................Full Article: Source
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