Saudi Electricity Company (SEC) on 25 September issued a two-tranche $2bn Islamic sukuk on the international debt market to finance its capital spending. The first tranche of $800mn has a tenor of five years, maturing on 27 January 2024, with an annual profit rate of 4.22%, while the second for $1.2bn has a tenor of 10 years, maturing on 27 September 2028, with an annual profit rate of 4.72%. SEC says both issues attracted orders exceeding $7bn. The sukuk was arranged by joint lead managers...