ArabianBusiness.com - Middle East Business News
Monday, 23 November 2009 01:10 UAE time

YOUR DIRECTORY /

| Share |

Saudi Electricity set to sell more sukuk

by This email address is being protected from spam bots, you need Javascript enabled to view it  on Saturday, 04 July 2009
ISLAMIC BONDS: Saudi Electricity CEO indicates state-owned enterprise will sell more sukuk to fund expansion. (Getty Images)
ISLAMIC BONDS: Saudi Electricity CEO indicates state-owned enterprise will sell more sukuk to fund expansion. (Getty Images)

State-owned Saudi Electricity will sell more Islamic bonds, or sukuk, to finance expansion of capacity, its chief executive said on Saturday.

"In the future there is a plan (to issue more sukuk) to fund projects," Ali Saleh al-Barrak told reporters in the Saudi Red sea port of Jeddah. He gave no details.

Last week, the firm priced a 5 billion riyals sukuk at 160 basis points over the Saudi interbank rate (Saibor).

Barrak said then the new five-year issue had raised at least 10 billion riyals, but declined to say how much the company ended up taking. Bankers said it would be 7 billion riyals.

Story continues below ↓
advertisement

Saudi Electricity is currently carrying out projects worth 75 billion riyals to be completed within three years. (Reuters)

| Share |


READERS' COMMENTS

Disclaimer: The views expressed here by our readers are not necessarily shared by ArabianBusiness.com or its employees.

Click here to post a comment


Add your Comment
All posts are sent to the administrator for review and are published only after approval. ArabianBusiness.com reserves the right to remove any comment at any time for any reason. Please keep your responses appropriate and on topic.
Arabian Business would like to point out that only comments relevant to the story will be published. Any containing personal insults or inappropriate language will not be approved.
Name *
Remember me on this computer
Email *
(Your email address will not be published)
City
Country
Subject *
Comment *
Notify me of further comments


Please click post only once - your comment will not be published immediately.


MORE FROM ARABIANBUSINESS.COM

TOP IN MIDDLE EAST ISLAMIC FINANCE

  1. Kuwait Finance House posts 46% drop in Q3 profits
  2. World Bank unit to list sukuk in Dubai, Bahrain
  3. Bahrain Islamic Bank posts Q3 loss on bad loans
  4. Islamic finance growth seen 10-20% in 3 yrs - study
  5. Qatar Islamic Bank reports $51.44m Q3 profits

TOP MIDDLE EAST BUSINESS STORIES

  1. Emirates NBD has $350m Saudi exposure - chief
  2. Kuwait to allocate Iran port to boost trade
  3. Sunseeker ME announces regional expansion plans
  4. US leisure giant to open first Mideast hotel
  5. Qatar-Bahrain causeway work to being Q1 2010

ALSO IN MIDDLE EAST ISLAMIC FINANCE

  1. Tamweel records 95% fall in Q3 profit
  2. Islamic finance steps up
  3. Moody's sees 50% surge in sukuk issuance this year
  4. Dubai’s debt move
  5. Islamic bank assets up 29% - survey

LATEST MIDDLE EAST BUSINESS NEWS

  1. Sport: Lee Westwood wins Race to Dubai
  2. Construction & Industry: Qatar signs $22.79bn rail deal with Deutsche Bahn
  3. Media & Marketing: Dubai developers see negative press reports decline
  4. Transportation: Kuwait to allocate Iran port to boost trade
  5. Retail: Sunseeker ME announces regional expansion plans

SHARE PRICE CHECK

RELATED STORIES

Saudi Electricity Company
| 47 stories
  1. Pressure seen easing on struggling Saudi power grid
    8 Nov '09 | News
  2. Saudi signs $1.8bn deal to expand Qurayat power plant
    21 Oct '09 | News
  3. Gulf Arab states link up to foil power crunch
    23 Jul '09 | Features

RELATED LINKS

  1. Saudi Electricity Company»
Related links open in a new window and are not endorsed by ArabianBusiness.com.

 EMAIL ALERTS

  1. Saudi Electricity Company

  2. Islamic Finance


CURRENCY CONVERTOR

Tell us your story

CURRENT ISSUE


 

READER COMMENTS

  1. Dubai population grows 1.9% in Q2 04
    22 Nov ' 09 at 21:41
    the figures on 'population' do not come from rental stats and who is living where, it comes from the number of visas issued that are...   More  »
  2. The Roubini Vs Rogers debate 04
    22 Nov ' 09 at 14:44
    Simon, I agree with everything you say. The paper gold games of Comex and the gold fractional reserve banking system of the LBMA are...   More  »
  3. RTA to lease last batch of retail outlets on Red Line 04
    22 Nov ' 09 at 15:33
    Dont really know how well these outlets do. No feedback.   More  »

Read all user comments >

Gitex 2009

MORE FROM ARABIANBUSINESS.COM

JOBS

SPECIAL REPORTS

SURVEYS & REPORTS

PROPERTY