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FINANCIAL NEWS
ACWA to sell USD800 m debut Islamic bond
06 Oct 2013
(MENAFN) ACWA Power, a Saudi water and power project developer, announced its will to sell USD800 million debut Islamic bond by the end of the current year, according to Arab News.
ACWA is willing to record a higher production capacity by 2017 at 38.000 megawatts of power.
The firm expects securing a credit rating to transfer it to an improvement and to launch Islamic bonds.
Chief executive Paddy Padmanathan said: “That was one of the things that kept us back for a while, and there was a decision (internally) around do we need to be rated as ratings are a one-way street – once you rate, you are stuck with the story forever,” as he does not expect the firm to come to market with a rating.
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BBK activates partial remote working system for its workforce to ensure employee and customer safety and service continuity
24 Feb 2026
BBK discloses its financial results for the year ended 31st December 2025
05 Feb 2026
BBK announces December Al Hayrat Grand Prize winners and another wave of Grand prizes for February
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