| Saudi Electricity Co (SEC), the Gulf's largest utility, has launched an offer of a $2 billion dual-tranche Islamic bond, or sukuk, with pricing due later on Tuesday, a document from lead managers said.
The offer is split between a $1 billion 10-year tranche and a $1 billion 30-year portion, with price guidance set at 155 basis points and 190 bps over benchmark US Treasuries. Orders worth $13 billion have been pledged by investors for the deal, which should price in the morning New York time, the document added...............................................Full Article: Source
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