Saudi Electricity Company is preparing to return to the debt markets, lining up a broad syndicate of regional and international banks for a potential dollar-denominated, senior unsecured sukuk.
The move comes alongside a newly arranged five-year financing facility that could reach up to $1.5 billion, underscoring the utility’s active fundraising streak as it strengthens liquidity and supports long-term capital needs.
A wide roster of institutions has been brought on board to manage the proposed Islamic bond, spanning global heavyweights and regional lenders from the Gulf, Asia, and Europe. The mandate reflects both the scale of the transaction and continued investor appetite for Saudi-linked issuers in the sukuk market.
The state-backed power producer has been particularly active on the borrowing front. Earlier this week, it closed its third loan in under six months, securing a facility with an initial size of $1 billion and an option to expand it by a further $500 million.
Listed on Tadawul, Saudi Electricity remains closely tied to the kingdom’s broader economic framework. The Public Investment Fund holds a controlling stake of just over 74 percent, while Saudi Aramco owns nearly 7 percent, anchoring the company firmly within Saudi Arabia’s strategic energy ecosystem.
With conventional loans and Islamic instruments now running in parallel, the utility appears intent on keeping multiple funding channels open as it navigates rising investment demands and evolving market conditions.
