10/04/2014
Amounted to 12.5 billion dollars
underwriting in instruments «electricity» more than 5 times the amount required
Saudi Electricity Company said the offering size of fixed income instruments that have been promoted in the United States and Europe reached $ 12.5 billion, representing more than five times the amount required. The company said in a statement posted on the ' trading ' applications by fixed-income investors has grown rapidly, enabled the company to modify the indicative price to 4.0-4.25 percent 10-year slide, 5.5 per cent 5 626 per cent for 30 years. The command continued to record strong after the price adjustment, enabled the company to close records on minimum pricing benchmark rate of 4.0 percent for 10-year slide, and 5.5 percent for 30 years. American investors have received and the Middle East, the largest share of customization in instruments that deserves after 30 years by 31 per cent, and 30 per cent respectively, from Europe by 20 percent and Asia by 19 per cent. The instruments are worth after 10 years there has been a significant demand of investors from the Middle East and Europe by 34 per cent and 23 per cent respectively, followed by international institutions, the United States and Asia by 17 per cent and 16 per cent and 10 per cent respectively. The company has been able to go through this extension of benefits for the company's debt for a longer period in proportion to the life of the assets, and to broaden the base of international investors for the company. The company was able to price the issue of instruments with less than a fair price when compared with returns on instruments company traded at about 22 basis points and 16 basis points to instruments with a term of 10 years and 30 years respectively. Two banks was appointed ' Deutsche Bank ' and ' HSBC ' and ' JP Morgan ' managers to subtract and receive offers, ' Mizuho Securities ' Director, a participant.
And Saudi Electricity Company announced in late March it would conduct a series of meetings with fixed income investors in Europe and America, and began the process of building the log commands after the meetings with investors. The first indicative price announced at a rate of between 4.25 and 4.375 percent for those worth after 10 years, the rate of between 5 616 and 5.75 per cent slide instruments deserved after 30 years. Little, Saudi electricity company versions of instruments with great demand from investors in the United States, especially the longer maturity instruments.
