State-controlled utility Saudi Electricity Co is in talks with regional and international banks about issuing a US dollar-denominated sukuk, banking sources said on Monday.
The company is close to appointing banks to arrange the transaction which, according to one of the sources, is likely to exceed $1 billion.
A company spokesman did not respond to a request for comment.
A number of companies in the kingdom are considering replenishing their coffers through domestic and international bonds to offset a decline in revenues due to lower oil prices.
Last Update: Wednesday, 20 May 2020 KSA 09:50 - GMT 06:50