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.
