The Clap
ACWA Power has started issuing Sukuk denominated in SAR as part of its SAR 5bn local Sukuk program, through a private placement.
What
Sukuk are securities issued by companies to collect money from investors for a specific period of time with a specific payment date, and during this period the Sukuk usually distributes a periodic profit rate (fixed or variable).
So What
The value of the offering will be a maximum of SAR 1.8bn, with the final amount and conditions for issuing the Sukuk to be determined according to market conditions.
Now What
The company will announce any other relevant developments to its shareholders whenever available.
