ACWA Power raises $479.7m under the Sukuk programme

It is the second phase of the SAR5b programme.

Saudi Arabia-based ACWA Power has raised around $479.7m (SAR1.8b) in funding which will be used for general corporate funding purposes along with the second phase of its investment in Jazan integrated gasification combined cycle brownfield acquisition.

In a statement, ACWA Power said the fund was secured through a senior, unsecured Sukuk floating rate issuance with a seven-year tenor with a call option on the 5th issue date anniversary.

The transaction, which had a healthy order book of around $1.1b (SAR4.02b) or 2.2 times oversubscription, was structured on a Shariah complaint Mudaraba-Murabaha basis, and is the second issuance under the around $1.3b (SAR5b) Sukuk programme. The first phase involving around $746m (SAR2.8b) was raised in June 2021.

ACWA Power said the issuance attracted 22 banks, government funds, asset managers, and insurance firms. Non-bank investors comprised 32.2% of the order book.

$1 = SAR3.75

Follow the link for more news on

ACWA Power

Also Read

Akaysha Energy secures $164.4m debt for Queensland battery project

ADB signs $121.55m financing deal for Bangladesh's 100 MW solar project

Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!

I want to download the media kit