Saudi Electricity to Convert $45 billion in Gov. Liabilities into Perpetual Instrument
Posted on 11/16/2020
Saudi Electricity Company signed an agreement with the government to convert state liabilities worth 167.92 billion Saudi riyals (US$ 45 billion) into a subordinated perpetual financial instrument to strengthen its balance sheet. The Shariah-compliant perpetual equity-like instrument will carry a 4.5% profit rate and a redemption option, according to the statement. “With the signing of […]
