Saudi Electricity Company has announced its successful completion of the pricing and allocation of instruments with a total value of U.S. $ 2,500 million. This came after it had held a series of meetings with fixed income investors in the United States of America and Europe. This issuance included two tranches of certificates first instruments worth 1,500 million U.S. dollars and a maturity of ten years with a yield of 4 % and the second valued U.S. $ 1,000 million and a maturity of 30 years with a yield of 5,5 %. The yield for each tranche shall be paid every 6 months. The instruments were issued upon an arrangement by Deutsche Bank, HSBC and JP Morgan. The final size of subscription amounted to U.S. $ 12.5 billion, representing more than 5 times of the required amount.
