Saudi Electricity Company (SEC) has completed the issuance of its U.S. dollar denominated senior unsecured Sukuk, according to an announcement made on January 18, 2026. The offering was conducted under SEC’s international Sukuk issuance programme and targeted eligible investors both in Saudi Arabia and internationally.
The total amount raised through the triple tranche Sukuk is $2.4 billion. The offer consists of three tranches with different maturities: the first tranche is valued at $500 million with a three-year maturity, the second at $700 million with a six-year maturity, and the third at $1.2 billion maturing in ten years.
Each tranche carries a fixed annual return. The first tranche offers a rate of 4.310% per annum, the second 4.518%, and the third 5.065%. The par value for each bond or Sukuk is set at $200,000.
The number of securities issued includes 2,500 Sak for the first tranche, 3,500 Sak for the second, and 6,000 Sak for the third.
The company noted that “the Sukuk may be redeemed prior to the scheduled maturity date in certain cases as detailed in the base offering circular in relation to the Sukuk.”
Additionally, SEC stated that “the Sukuk will be listed on the London Stock Exchange’s International Securities Market.” Distribution will take place outside of the United States and only to non-U.S. persons as per Regulation S under the U.S. Securities Act of 1933.
