Saudi Electricity Company to discus extending sukuk purchase dates

Saudi Electricity Company (SEC) recently announced that it is planning discussions with interested sukuk holders to extend their purchase dates.
 
SEC said an extension would be subject to the company's terms. For sukuk holders who do not reach an agreement to extend, SEC will purchase their sukuks on the original purchase date.
 
SEC also announced that HSBC Saudi Arabia Ltd., NCB Capital Company and Samba Capital & Investment Management Co. will be on hand to discuss the terms of such an extension with holders.
 
The company will need to hold a special meeting of Sukuk III Sukuk holders before it can implement this extension plan.