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Saudi Electricity mandates banks for dollar sukuk in two tranches
By Rebecca Melvin
New York, Sept. 13 – Saudi Electricity Co. announced Thursday that it has mandated banks for a planned dollar-denominated sukuk, or Islamic bond, according to a market source.
Citigroup, First Abu Dhabi Bank, HSBC, Mizuho, MUFG, Natixis and SMBC are among the bookrunners for the deal.
The issuer is a majority state-owned electricity company.
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