Saudi Electricity Company successfully places $2.4bn sukuk

The Saudi Electricity Company successfully issued an international sukuk totalling $2.4 billion, which was oversubscribed more than four times.

The issuance comprised three tranches – $500 million with a three-year maturity, $700 million with a six-year maturity, and $1.2 billion with a 10-year maturity.

The tranches have fixed rates of 4.31 per cent (for three-year term), 4.518 per cent (for six years), and 5.065 per cent per annum for the 10-year tranche.

The sukuk will be listed on the London Stock Exchange’s International Securities Market.

The offering attracted strong demand from a broad and diverse base of international investors, with peak orders exceeding $10.1 billion, representing 4.2 times the total size.

The sukuk followed a global virtual investor roadshow launched on January 14, 2026, which drew strong interest from investors across Asia, Europe, and the Middle East, and was successfully offered and priced the following day, January 15.

This success is supported by the strength of the Saudi Electricity Company’s credit profile, backed by solid investment-grade ratings from leading global agencies, including Moody’s Aa3 (stable outlook), Fitch A+ (stable outlook), and Standard & Poor’s A+ (stable outlook).