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SEC launches $2bn Islamic bond
- Saudi Arabia: Wednesday, March 27 - 2013 at 04:38
Saudi Electricity Co (SEC) has launched an offer of a $2bn dual-tranche sukuk, Reuters has reported. The offer is split between a $1bn 10-year tranche and a $1bn 30-year portion, with price guidance set at 155 basis points and 190 bps over benchmark US Treasuries Orders worth $13bn have been pledged by investors for the deal, according to a document from lead managers.
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