Saudi Electricity Company (the Company) announces that it is willing to hold discussions with interested Sukukholders to extend the purchase date in respect of its SAR Sukuk Expiring 2030G (Sukuk III, listed in Saudi Stock Exchange). Any such extension would be subject to the terms being acceptable to the Company.
In the event that Sukukholders do not wish to extend their purchase date or an agreement on extension terms is otherwise not reached, the Company will purchase their Sukuk on the original purchase date which is 10/05/2017G.
The Company further announces that it has mandated HSBC Saudi Arabia Ltd., NCB Capital Company and Samba Capital & Investment Management Co. as its financial advisers to discuss the terms of such an extension with Sukukholders.
In order to implement any such extension for interested Sukukholders, the Company will be required to convene a special meeting of Sukuk III Sukukholders. Any such meeting will be announced following discussions with Sukukholders of the terms of any such extension and subject to official approvals.
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