Saudi Electricity sets sukuk price guidance

State-controlled Saudi Electricity Co has set the final price guidance for a planned sale of dual-tenor US dollar-denominated sukuk, or Islamic bonds, according to documents seen by Reuters.

The company is marketing five-year sukuk, due in January 2024, and 10-year sukuk with a final price guidance of around 120 basis points over mid-swaps and 165 bps over midswaps, respectively.

The bonds are expected to price within a range of 5 bps above or below the set guidance.