Saudi Electricity Company (SEC) has completed a US$2.4 billion Sukuk issuance under its International Sukuk Issuance Programme. The offering was divided into three tranches: US$500 million for three years, US$700 million for six years, and US$1.2 billion for ten years. The issuance received significant interest from investors, with demand exceeding US$10.1 billion and resulting in an oversubscription rate of 4.2 times.
The pricing and execution of the transaction took place on January 15, 2026, following a virtual global roadshow held on January 14. Institutional investors from Asia, Europe, and the Middle East participated in the offering. SEC’s credit ratings are Aa3 (Stable) by Moody’s, A+ (Stable) by Fitch, and A+ (Stable) by S&P.
Eng. Khaled bin Salem Al-Ghamdi, Chief Executive Officer of SEC, commented: “The overwhelming response to this issuance is a testament SEC’s continued ability to access international capital markets efficiently. This success reflects our strong credit fundamentals, our pivotal role in the thriving Saudi economy, and our contribution to enabling the energy transition and advancing the objectives of Saudi Vision 2030.”
He also stated: “the issuance further enables our growth ambitions, as we continue to invest in strengthening the grid infrastructure, integrating renewable energy sources, and accelerating smart gird and digitalization initiatives. These investments will support our ongoing commitment to delivering high-quality, reliable electricity services while creating sustainable value for our customers and shareholders.”
