SAUDI ARABIA: Allen & Overy and its affiliate Abdulaziz AlGasim Law Firm, have advised Saudi Electricity Company (SEC) on the issuance of a SAR7 billion (US$1.87 billion) Sukuk.
The seven-year Sukuk is the first public offering of 2010, as well as the first corporate Sukuk from Saudi Arabia.
It is the third issuance by the utility firm, after it raised SAR7 billion (US$1.87 billion) last year and a maiden issue for the same amount in 2007.