抖阴短视频

RIYADH: ACWA Power, the utility developer backed by 抖阴短视频鈥檚 Public Investment Fund (PIF), on Tuesday announced it had raised SR2.8 billion ($750 million) from its first sukuk issuance.

The sukuk will have a seven-year tenor and was 1.8 times oversubscribed, the company said in a statement. Fund managers, government funds and insurance companies accounted for about 30 percent of investors.

Paddy Padmanathan, president and CEO of ACWA Power, said: 鈥淭he success of the issuance is proof of the wider market鈥檚 faith in KSA鈥檚 bond market and ACWA Power鈥檚 strong credit fundamentals, which have attracted a diverse pool of sophisticated investors.鈥�

He said that the issuance is also 鈥渁 vote of confidence from investors in our ability to capture large opportunities in 抖阴短视频 and other growth markets, thanks to our de-risked and 100 percent contracted business model that is well diversified across different technologies and geographies.鈥�

抖阴短视频鈥檚 sovereign wealth fund, the PIF, in November last year increased its stake in ACWA Power to 50 percent from 33.6 percent.

鈥淲e believe that ACWA Power will play a significant role in both driving and diversifying economic growth in the future, while also providing enduring commercial return for the people of the kingdom,鈥� PIF said in a statement at the time.

Riyadh-based ACWA Power in January also signed a $125 million financing deal with the Arab Petroleum Investments Corporation. The five-year Shariah-compliant corporate facility will be used by ACWA Power to develop future projects.

The company has announced a number of large-scale international projects in recent months. In December, it signed an agreement for $300 million of renewable energy projects in Azerbaijan, including the country鈥檚 first wind power facility.

In April, the company struck a deal to build a wind power plant in northwest Uzbekistan, the largest of its kind in Central Asia and one of the largest in the world.