Allen & Overy advises on Saudi Electricity Company Sukuk

Allen & Overy, through its association with local law firm Abdulaziz AlGasim Law Firm, advised Saudi Electricity Company (SEC), on the successful closure of its $1.75 billion dual-series Sukuk issue. The transaction is SEC's first international Sukuk issuance and the largest international debt capital markets issuance to date out of Saudi Arabia. The transaction was structured as a Sukuk al-ijara, with the two series of trust certificates issued by Saudi Electricity Global SUKUK Company (a special purpose vehicle incorporated in the Cayman Islands and wholly-owned by SEC ).

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