Middle East Economic Survey
VOL. LII
No 26
6-Jul-2009
SAUDI ARABIA
SEC Secures Regions Tightest Pricing For SR7Bn Sukuk Issue
The Saudi Electricity Company (SEC) has secured good pricing for its SR7bn ($1.87bn) issue of sukuk (an Islamic product similar to a conventional bond), after the offer period closed on 28 June, MEES understands. Pricing was 160 bps over the Saudi interbank offered rate (Sibor), which is the tightest pricing achieved in the region after the fall of Lehman Brothers in...
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