Saudi Electricity Company said on Sunday it raised 4.5 billion riyals ( $1.2 billion ) from the sale of an Islamic bond. The sukuk was priced at 70 basis points over the 3-month Saudi interbank offered rate (Saibor), the Gulf's largest utility firm said in a statement. SEC said at the beginning of January that it had chosen banks to arrange the riyal-denominated transaction. It had been planning to meet investors until February 27 but completed the deal earlier. It did not give a reason why in Sunday's statement. - Reuters ?
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