SEC has announced its intention to commence holding calls with fixed-income investors in preparation for the potential issuance of an International Green Sukuk.
In a strongly attended virtual roadshow, contacts were made with key anchor investors from Hong Kong, Singapore, UAE and the UK. Also, a global investor conference call attracted around 70 international institutional investors, allowing SEC to present its credit story and highlight its ESG strategy ambitions and the credentials of its contemplated Green Sukuk.
The launch of the Green Sukuk was announced on 10 September 2020 and SEC completed a very successful day, attracting a combination of approximately 267 high-quality institutional investors and dedicated green accounts from 22 countries in Asia, Europe and the Middle East.
This issuance of $1.3 billion marks the first Green Sukuk issuance out of the KSA in international markets, and it ranks the largest of its kind from the MENA region in 2020.
The transaction marks the first Saudi US dollar-denominated Green Sukuk issuance. It is also one of the cheapest ever issuance for SEC since it started to access international markets.
Commenting on the success of the Green Sukuk issuance, Fahad Al Sudairi, SEC’s President and Chief Executive Officer, said: “We are delighted with the high interest from the international investors in SEC’s credit story. This Sukuk issuance comes in line with SEC’s strategy to diversify its funding sources, broaden its investor base in the international markets and supports its aims to seek innovative and sustainable finance for our green projects portfolio.”