DUBAI: Saudi Electricity Co. (SEC), the Gulf's largest utility, has released initial price guidance for the sale of a two-part Islamic bond, or sukuk, a document from lead managers said on Monday.
State-owned SEC is eyeing a ten-year tranche at 175 basis points over equivalent U.S. Treasuries and a 30-year portion at 210 bps over.
No time frame for pricing was given. Meetings with fixed income investors are scheduled to conclude in London on Monday, having taken place in the United States last week.
Deutsche Bank and HSBC Holdings are arranging the roadshows. (Reuters)
